BZRX/USDT

6 nov 2021

bZx Protocol token had tried to break out of the 0.48 resistance area multiple times on the 4hr chart but failed, and finally, on the 4hr candle yesterday, it crashed hard. However, a very long-term consolidation area is below the current price from its breakout area, which was never retested before since the breakout. I expect lots of order blocks to be sitting there to help this pair bounce back and retry, breaking the 0.48 resistance again. We also have a huge area of SL clusters below it, which is wicked to the downside may push the price back up extremely quickly. Trading this pair should be done with a well-placed SL far away from that cluster area. I expect this pair to retest the local resistance area of 0.4350 and global 0.5200 and 0.6150 once BTC settles down.