XTZUSD - 1D Stochastic RSI Divergence (Swing)

19 May 2021

Stoch RSI Divergence on the daily timeframe, expecting a big move upwards to retest previous support (now resistance) levels.

There is also a Falling Wedge in play on the 4HR timeframe.

22 May 2021

Not

The Stoch RSI Divergence is invalidated after the market dumped a day ago, currently we're sitting at major support on the 200MA (Daily) and 50MA (Weekly), so we can expect the price to hold this level and possibly retest the $5 region in the next few weeks.

There's a slight chance we could push back up to previous highs if we see a strong bounce, today's candle will play the most important part, which is that we need a bullish engulfing candle on the daily.