BLUEZELLE - Important Levels
BLZ has been difficult to read recently due to the massive volatility spikes. From the higher timeframe, it looks like we can be heading to one of 2 key levels where we'll get a bounce.
First Level: 0.1800
78.6 Fibonacci and Structure
Second Level: 0.1200
We have previous structure where we saw a triple bottom. We could be making a higher timeframe double bottom before we move higher.
Trade Idea:
- Watch for reversal signs at one of those 2 levels
- When there's buying pressure, enter with stops below that structure level
- Target the recent highs as first target and then ATH as second target
Goodluck!
First Level: 0.1800
78.6 Fibonacci and Structure
Second Level: 0.1200
We have previous structure where we saw a triple bottom. We could be making a higher timeframe double bottom before we move higher.
Trade Idea:
- Watch for reversal signs at one of those 2 levels
- When there's buying pressure, enter with stops below that structure level
- Target the recent highs as first target and then ATH as second target
Goodluck!
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