Technical analysis by Jilderinho about Symbol BLZ: Sell recommendation (8/23/2023)

Rising wedge forming on BLZUSDT. It is potentially topping out in the coming hours / days. Two scenarios I'm personally watching here: 1) We break the lower trend line of the rising wedge. First TP area would then be around 10 cents, second TP around 8 cents. Keep a small percentage open if it completely collapses to the downside (around 6 cents). 2) We keep pushing higher and take liquidity between 17 and 20 cents. If there is a big wick forming to the downside, this might be an ideal short opportunity. Keep in mind this is an incredibly risky play. Manage your risk carefully.