ZIL/BTC 1D DESCENDING SCALLOP,DIVERGENCES
1) The stochrsi and price show divergence,2) The volume and price are diverging? (3)volume profile of scallop is U not dome wondering if divergence is an artifact of that,if indeed it is divergent?). Would normally say short however good indications of upwards progress soon,fundamentally wise mainnet token migration(1st April) lends itself to mid term uptrend possibly. Bear scenario pushes it to ATL most likely though possibly in range of previous bottom,forming the double bottom,scallop retracement puts it substantially lower.Orders at these levels depending on your strategy or when break up of scallop(filling price gap) confirms on the trendline,subsequent possible retracement or the same sequence but extending from new ATL or double bottom structure.
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.