ZECBTC Bullish Analysis
ZECBTC look like trading on a symmetrical triangle.
From an initial perspective, ZECBTC looks like it has broken out major "red line" resistance of the triangle and is heading towards retesting it.
Current price of ZECBTC is as shown at 5639 satoshis.
From around this price, ZECBTC can potentially bounce back and head towards the "take profit" target at around 6951 satoshis.
If this is not the case and we have a breakdown of ZECBTC from the red line we have set a stop loss at around 5411 satoshi.
Then we can expect ZECBTC to head towards the green support line or form the DASHED line triangle.
From an initial perspective, ZECBTC looks like it has broken out major "red line" resistance of the triangle and is heading towards retesting it.
Current price of ZECBTC is as shown at 5639 satoshis.
From around this price, ZECBTC can potentially bounce back and head towards the "take profit" target at around 6951 satoshis.
If this is not the case and we have a breakdown of ZECBTC from the red line we have set a stop loss at around 5411 satoshi.
Then we can expect ZECBTC to head towards the green support line or form the DASHED line triangle.
Note
I have booked 25% of my positions at 6705 sat as ZECBTC looks like it is losing some of its momentum and we dont want to be greedy. Therefore, securing some profit, and buy more if dip
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