XTZ Potential Drop Before Taking off!?

Aug 10, 2021

XTZ has been moving somewhat sideways but slightly upwards for the past month and a bit and it looks like we could be in for a little drop coming up soon, i imagine that we will see a drawdown to the pivot point which is about -9-10% from where we are now, however i do really think we are going to catch support and get a bounce, if you take a look at the bollinger bands you notice the midline which right now acts as support lines up perfectly with that pivot point that acts as support, i think its likely that we will atleast see a bounce on the first wick down. Keep in mind that BTC is a big factor in this, if BTC decides to pullback or drop we can expect the same for the rest of the market. The MACD is looking a little shaky we see our Blue MA approaching the orange one while pointing to the downside, i think we are likely due for a bearish cross in the coming day/s. Our histogram is slowly cooling down printing lesser green bars than the previous and we are coming up on the midpoint where we could see this flip to red. Think a little cooloff or pullback is due before we see a big run for XTZ here but keep in mind BTC plays a huge factor so always remember that, very bullish on XTZ longer term i believe it is a great project and will be looking to buy the dips. Not financial advice just my opinion!!