XTZBTC Fractal| .618 Fibonacci| Trend Line| Volume Profile

Evening Traders,

Today’s Analysis – XTZBTC – a highly probable fractal at play, the .618 Fibonacci coinciding with the overall trend line perfectly.

Points to consider,
- Trend Bullish
- Impulse move from .618 Fibonacci
- RSI neutral
- Stochastics in upper regions
- Similar volume profile

XTZ’s trend is bullish with consecutive established higher highs, respecting the trend line to a T.

The .618 Fibonacci has held true twice with confluence from the trend line, leading to two impulse moves.

RSI is currently neutral, similar to the previous test of the trend; this goes the same with the stochastics, trading in the upper regions (momentum is up).

The volume profile looks similar in shape, a declining and tapering off as price magnets to the trend line.

Overall, in my opinion, this is a highly probable fractal at play with a retest of the trend line being the confirmation. It is an easy manageable trade where invalidation will come quickly, that is when the trend line breaks.

What are your thoughts?

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And remember,

“People who look for easy money invariable pay for the privilege of proving conclusively that it cannot be found on this earth.” - Jesse Livermore