I wanted to share the pattern formed for BLZ on the 1hour chart. As you can see the price is showing a lot of resistance to the down in blue, forming lower peaks while maintaining the lower .
On the 1 hour chart, BLZ symbol] has already crossed the 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 , shown by the dotted red line. A full realization of a 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.
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