XTZ just bounced off of previous support clearly indicating that it is now resistance.
I see 2 possible scenarios play out.
Bearish: we bounce about eventually breaking the support line and make a lower low.
Bullish: we bounce about eventually breaking out of this area signalling a trend reversal.
You could make roughly 17% gains every time it bounces between these 2 levels if the bottom support line holds but be cautious as XTZ often wicks above and below the support lines possibly triggering your stop loss prematurely.
Hope you're having a good day. let me know in the comments what you think.
I see 2 possible scenarios play out.
Bearish: we bounce about eventually breaking the support line and make a lower low.
Bullish: we bounce about eventually breaking out of this area signalling a trend reversal.
You could make roughly 17% gains every time it bounces between these 2 levels if the bottom support line holds but be cautious as XTZ often wicks above and below the support lines possibly triggering your stop loss prematurely.
Hope you're having a good day. let me know in the comments what you think.