XTZBTC Key Support| Local Resistance| Lower High?
Evening Traders
Today’s Technical Analysis will be on XZTBTC that has been in a strong bull trend, a correction and a retest of the .382 Fibonacci is likely before a continuation.
Points to consider,
- Bull trend intact – consecutive higher lows
- Key support (.382 Fibonacci)
- Local resistance to break
- RSI correcting to support
- Stochastics projected down
- Above average volume
- VPVR decreasing in volume
XTZBTC has been putting in consecutive higher lows keeping the bull trend intact, it has tested the .392 Fibonacci as the new potential higher low.
The .382 Fibonacci is a key support being in confluence with the structural horizontal.
Local resistance is a key level to break for the market structure, this will allow XZT to leave current trade range.
The RSI is correcting to neutral territory from overbought conditions, healthy to see in an uptrend. Stochastics on the other hand, is to correcting with stored momentum to the downside.
Volume nodes are clearly above average, this needs to sustain for a continued bull trend.
The VPVR shows low volume of transaction below key support, a break to this support can propel XTZ to test lower regions.
Overall, in my opinion, XTZBTC is putting in a probable lower high in this will defined trend. A break of ley support will increase the likely hood of a higher low – first signs of a trend reversal.
What are your thoughts?
Please leave a like and comment,
And remember,
“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” – William O’Neil
Today’s Technical Analysis will be on XZTBTC that has been in a strong bull trend, a correction and a retest of the .382 Fibonacci is likely before a continuation.
Points to consider,
- Bull trend intact – consecutive higher lows
- Key support (.382 Fibonacci)
- Local resistance to break
- RSI correcting to support
- Stochastics projected down
- Above average volume
- VPVR decreasing in volume
XTZBTC has been putting in consecutive higher lows keeping the bull trend intact, it has tested the .392 Fibonacci as the new potential higher low.
The .382 Fibonacci is a key support being in confluence with the structural horizontal.
Local resistance is a key level to break for the market structure, this will allow XZT to leave current trade range.
The RSI is correcting to neutral territory from overbought conditions, healthy to see in an uptrend. Stochastics on the other hand, is to correcting with stored momentum to the downside.
Volume nodes are clearly above average, this needs to sustain for a continued bull trend.
The VPVR shows low volume of transaction below key support, a break to this support can propel XTZ to test lower regions.
Overall, in my opinion, XTZBTC is putting in a probable lower high in this will defined trend. A break of ley support will increase the likely hood of a higher low – first signs of a trend reversal.
What are your thoughts?
Please leave a like and comment,
And remember,
“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” – William O’Neil