Zilliqa / BitcoinShort
ZLBTC ... Wants to break down
Updated
I got many requests about ZIL in some groups.
I've decided to share my TA for long term.
This chart in my personal opinion is very perfectible and easy to read.
After and Extended wave 5 ZIL made a very big correction ...
Breaking even the top of the wave 1 that is very bearish for me ...
After C made a symetrical triangle same as BTC from 6k to 3K and broke down .
Now Zil if forming a potential symmetrical triangle again doing ABCDE
but there a lot of resistance EMAs are acting as very good resistance and Weekly Stoch is going down.
I don't see good support to go upside for making C wave.
If btc breaks down I am pretty sure ZIL will break down going lower .
I would be very careful with this coin.
I've decided to share my TA for long term.
This chart in my personal opinion is very perfectible and easy to read.
After and Extended wave 5 ZIL made a very big correction ...
Breaking even the top of the wave 1 that is very bearish for me ...
After C made a symetrical triangle same as BTC from 6k to 3K and broke down .
Now Zil if forming a potential symmetrical triangle again doing ABCDE
but there a lot of resistance EMAs are acting as very good resistance and Weekly Stoch is going down.
I don't see good support to go upside for making C wave.
If btc breaks down I am pretty sure ZIL will break down going lower .
I would be very careful with this coin.
Note
Bulls are defending very good the trend line support! the bigger picture after few days is getting better if ZIL can break and hold 526 sats will go to the top of the triangle easily Note
Well the last pump was a fake out finally ZIL broke the triangle to go down... last hope for this coins is making a doble bottom if this coin breaks that area will make new lows..
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