H&S on the Weekly
XTZUSD is forming a pretty clear Head and Shoulders pattern on the weekly timeframe. As much as I'm hoping it does not confirm this pattern (we still have 6 days left in the candle), I'm not super confident it will break out. The one fundamental that I think could push it out of the right shoulder is their planned bridge to DeFi, and the bringing of around 20 ERC-20 tokens to the blockchain. That could drive a significant price increase, but I'm not sure when that is planned for release or if it will get the attention it deserves.
If we can't close above the 3.40-3.50 range I could very much see a retrace back to the 1.80-2.00 level.
Keep an eye on this one.
If we can't close above the 3.40-3.50 range I could very much see a retrace back to the 1.80-2.00 level.
Keep an eye on this one.
Nota
Currently breaking upward out of the right shoulder. Let's hope this invalidates!Nota
Invalidated pattern so far as we are above the head at 4.70.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.