Tezos risks correction below record high with XTZ rallying 250% since July
Cointelegraph
Published Sep 13, 2021 12:05PM ET
Updated Sep 13, 2021 01:40PM ET
A recent price boom in the Tezos (XTZ) market risks exhaustion as it triggers a classic bearish pattern.
Dubbed as the "ascending broadening wedge," the pattern develops when the price oscillates between two upward but diverging trendlines. According to its creator Thomas Bulkowski, these wedges tell less about buying exhaustion and more about sellers' ambition to take control, i.e., buyers tend to lose dominance every time the price touches the upper trendline.
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Written By: Cointelegraph
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