ZECUSDT (ZCASH) - UPTREND CONTINUATION ANALYSIS 🔎
- ZECUSDT hit swing high.
- The market then retraced for a retest of the flip horizontal support (S1) and fibonacci retracement levels.
- A bullish pin bar (hammer) was formed at the retest area.
- Price action is printing a pennant chart pattern.
- A pennant chart pattern is a trend continuation pattern. In this case, a bullish continuation pattern.
- There's an uptrend continuation possibility.
BUY ENTRY ⬆️
- Breakout above the pennant's inclined resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the pennant's inclined support.
ZECUSDT
ZECUSD / New HighZCash hits a New High today ,but ran into resistance zone.
Bullish tagert is still at least $191 (1.618 Trend-Based Fib Extension).
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$ZECUSD - Breakout confirmedHello everyone!
This is another altcoin to my watchlist - ZECUSD.
RSI indicates that the coin is currently overbought, hence there should be a slight correction, the lowest to $99.5, however the candle is still above the dynamic resistance (pink), so uptrend sentiment remains.
Cup & Handle on Daily - 80% Target MoveTrade Plan
When price breaks HH, .382 Blue Fib
.5 Blue Fib will be our target.
Expect a move based on Fib Timezone 8 (March 11, 2021)
Trade on lower TF, .382 RED is your Resistance, .618 RED is support