ZBCN has shown impressive strength recently, following a textbook breakout from an extended accumulation phase. This kind of setup is well-known among technical traders: a period of sideways, range-bound price action often leads to an explosive move once resistance is broken — and that’s exactly what ZBCN has delivered.
The breakout has triggered a significant rally, and price action is now trending firmly upwards. From a structural standpoint, this is a clear shift from consolidation to expansion, which typically attracts momentum buyers and short-term traders aiming to ride the wave higher.
Currently, ZBCN is trading with strong bullish momentum, and the technicals suggest there is room for further upside. The immediate bullish target lies at the Fibonacci extension level of 0.011 satoshi, which marks a potential gain of approximately 258% from the earlier consolidation range. This Fibonacci level aligns with the nature of impulsive rallies that often follow accumulation breakouts.
However, one key level to watch remains the 0.032 satoshi zone. This level has not yet been retested following the breakout and stands as a critical structural area. A clean retest of this zone would provide confirmation of the breakout’s strength and likely act as a launchpad for the next leg higher.
In summary, ZBCN is currently exhibiting very bullish price action following its transition out of accumulation. If the rally continues without a retest, traders should look toward Fibonacci extension levels as potential short-term targets. If a pullback occurs, the 0.032 satoshi level is the most important zone to hold in order to maintain the breakout thesis.
As long as current momentum remains intact, the path of least resistance appears to be to the upside.
The breakout has triggered a significant rally, and price action is now trending firmly upwards. From a structural standpoint, this is a clear shift from consolidation to expansion, which typically attracts momentum buyers and short-term traders aiming to ride the wave higher.
Currently, ZBCN is trading with strong bullish momentum, and the technicals suggest there is room for further upside. The immediate bullish target lies at the Fibonacci extension level of 0.011 satoshi, which marks a potential gain of approximately 258% from the earlier consolidation range. This Fibonacci level aligns with the nature of impulsive rallies that often follow accumulation breakouts.
However, one key level to watch remains the 0.032 satoshi zone. This level has not yet been retested following the breakout and stands as a critical structural area. A clean retest of this zone would provide confirmation of the breakout’s strength and likely act as a launchpad for the next leg higher.
In summary, ZBCN is currently exhibiting very bullish price action following its transition out of accumulation. If the rally continues without a retest, traders should look toward Fibonacci extension levels as potential short-term targets. If a pullback occurs, the 0.032 satoshi level is the most important zone to hold in order to maintain the breakout thesis.
As long as current momentum remains intact, the path of least resistance appears to be to the upside.
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Disclaimer
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.