Bluzelle Oversold on 4HR chartBluzelle fighting to hold on, Bears are still knocking on the door but I hear the knocks becoming more faint. Rebound?
Bluzelle
Fighting the Bears!Bears are running out of room to offload, could still see price action drop to 4600 sats but that would mean a Full retracement of the fib.
BLZ - Bluzelle Big Bear Flag!Hello all! Welcome to my first technical analysis post on this platform.
I wanted to share the descending triangle pattern formed for BLZ on the 1hour chart. As you can see the price is showing a lot of resistance to the down trend line in blue, forming lower peaks while maintaining the lower support level.
On the 1 hour chart, BLZ symbol] has already crossed the support level shown by the pink line, signaling a confirmation of the pattern.
A full realization of this pattern would drive the price as low as the the vertical height of the two trend lines, shown by the dotted red line. A full realization of a bearish pattern is unlikely due the fact that this just entered exchanges not long and is still fairly hot, and BTC currently on a bull run driving more cash into the market and alt coins. With that said however, I do see it possible for BLZ to drop at least half way, to a target price of 5k satoshi, shown by the pink arrow.
Thanks for reading - I'll keep updating this as we gather more information in the coming days.
Please remember to comment and follow if you liked this TA!
Charlie
bullish rounded bottomBLZ looking bullish again shorterm with btc refusing a head and shoulders and possibly breaking out. Meanwhile, if BLZ is capable of breaking over 8400 level momentum will carry it higher
BLZETHLooking at this 45 minute chart. If we breakthrough trendline resistance (B), expect to see an increase in price and a formation of wave 5. Should maintain its support at the Trendline Support level.
BLZ BREAKTHROUGH, go for longBreakthrough happened on high volume, look for 1st target at 15000 satoshi. Its hard to determine further targets as there is absolutely no precedent with this coin. Be careful and invest conservatively, this is not financial advice, merely my opinion/
Bluzelle new coin HIGH RISK LONGBLZ is fresh off the boat, already making an ascending triangle and looking very bullish with lots of volume. This is a new coin so VERY HIGH risk, that being said, this thing could get pumped to high heavens at least 300% to 400% current value if market mania kicks in. Look for break up above 10 000 satoshi and enter long for some good profits.
If it does break through, ill post price targets.
