ZcashUpdated ZECUSD attempting double bottom breakout. $196 possible target.
Luna completed it’s double bottom breakout with ease, and considering we only just recently shifted back into an uptrend I’m assuming this double bottom as well as several other cryptos double bottom patterns are likely to trigger as well. Of course, as always we should wait for confirmation of a bullish breakout from this pattern, not go off assumptions, and currently the price action is finding resistance upon testing the double bottom neckline. Once it flips it to solidified support and then we see a nice impulse of bullish volume afterwards we can be more confident that it will validate the breakout. If so the target is $196. *not financial advice* Until then this idea will have to be listed as neutral despite myself having a bias towards the bullish outcome.
Note
The pattern has triggered its breakout and is nearing the target. Currently at $181.Note
We have now hit the target exactly..the current wick is spot on.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.