XZCBTC hit a golden cross on the MA 50/200 two days ago and continues to move in this channel since Jan 10 and I don’t foresee it changing. However, we are at a crossroads with the EMA 300: we beat it earlier then fell back below, seeing support at prior resistance. Since then, XZC has been floating between the EMA 300 and this previous resistance line. Hopefully, it can break above the EMA 300 and go on another quick run, with little resistance to 0.0015.
If XZC does not break the EMA 300 by the end of the current channel (Feb 18-19 or so), it could mean bad news and result in a quick reversal of the golden cross to a death cross on the MA 50/200.
On the linear scale, I am able to plot an ascending broadening wedge on the current upward trend. This is typically a bearish outlook, however, the golden cross is quite bullish and I believe it will win the day.
If XZC does not break the EMA 300 by the end of the current channel (Feb 18-19 or so), it could mean bad news and result in a quick reversal of the golden cross to a death cross on the MA 50/200.
On the linear scale, I am able to plot an ascending broadening wedge on the current upward trend. This is typically a bearish outlook, however, the golden cross is quite bullish and I believe it will win the day.