Please see below, linked is the original idea for Bluzelle(BLZ)
I created a fresh chart layou inorder to provide another perspective into BLZ.
As you can see, currently trapped in an ascending channel, BLZ is the perfect coin to hold for the long haul right now.
At support of the larger trending channel, It is a steal to hold for long term gains.
If you look closely, it is also forming and ascending triangle, and we know that to be a bullish pattern.
This is just a shakeout, if you're selling you shouldnt be in the game.
Furthermore, if you were to analyze the chart above very well, you would see that it is slowly forming a bulish pennant, but didnt add the line to avoid too much cluster on the chart.
But anything could happen so make sure to use a stop-loss.
I believe the rest of the chart is self explanatory.
Hope this chart helps with perspective
I created a fresh chart layou inorder to provide another perspective into BLZ.
As you can see, currently trapped in an ascending channel, BLZ is the perfect coin to hold for the long haul right now.
At support of the larger trending channel, It is a steal to hold for long term gains.
If you look closely, it is also forming and ascending triangle, and we know that to be a bullish pattern.
This is just a shakeout, if you're selling you shouldnt be in the game.
Furthermore, if you were to analyze the chart above very well, you would see that it is slowly forming a bulish pennant, but didnt add the line to avoid too much cluster on the chart.
But anything could happen so make sure to use a stop-loss.
I believe the rest of the chart is self explanatory.
Hope this chart helps with perspective
Trade active:
BLZ managed to find its way up with a good recovery back to the top of the range despite the crash that saw it drop to support.
Happy to take some profits here. Trade still active.
Happy to take some profits here. Trade still active.
Order cancelled
Should we close the week like this, we might as well break out of the range. Watch for a slight retracement on lower timeframes to get an entry.