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ZILBTC

ZIL BTC | Trend Reversal | Flow | Key Fibonacci LevelsTodays analysis – ZILBTC – trading in a possible descending channel, currently testing local support. Points to consider: - Flow in the market/price action - Respecting key Fibonacci levels - Resistance Confluence - Trend Reversal - Low Volume - RSI below 50 ZILBTCs healthy counter-trend and strong continuation adds legitimacy to the money flow. The previous swing-low respecting .618 Fibonacci retracement is indicative of a current retrace to .618 Fibonacci level. The .618 Fibonacci level also coincides with descending channel resistance. A rejection at this level will solidify a trend reversal with a lower swing high. An increase in volume is necessary to add legitimacy in the overall market. RSI attempting to recover from oversold conditions. A countertrend will neutralise and prime the oscillator for a trend continuation. Overall, in my opinion, a short trade is validated at the rejection of the resistance confluence with a technical target of local support. Entering the trade at resistance confluence consents immediate trade invalidation (price trading beyond resistance zone), mitigating overall risk. What are your thoughts? Let me know in the comments below! Be sure to leave a like and follow me for daily chart updates. As always, focus on you - and the money will too!
Short
by Kudiiee
4
ZILLIQA ($ZILUSDT) 💹 | Zooming into Zil for the Double Kill?🏁On our last ZIL chart, we illustrated how ZIL was coming up to heavy resistance on higher time frames and only has a handful of key support ranges below. What the bulls need to do to maintain momentum in the current uptrend is to find support ASAP and quickly head higher. Failing to do this isn't the end, it just really dampens the immediate bull case, which means fewer eyes on ZIL and buyers, which likely leads to more downside rather than the strength needed to break the resistance above. Since this is true, and since our last ZIL chart was a broader high time frame overview, today we'll zoom in a bit to look at logical places for the bulls to find support. Our analysis today is brought to you by user request, don't forget to ask questions and request charts in the comments below. Support: The pattern so far has been shallow pullbacks full of higher lows and clearly bullish price structure. This current correction is already looking a little bit more like a top due to a deeper pullback and the retest of the previous range (this is a first since the uptrend gained momentum). With that in mind, the S1 bullish S/R flip and orderblock cluster is the most logical place to find support if the overall uptrend is to continue. We may have lost a little bit of bullish price structure, but a move up at S1 retains a structure of higher lows at least. If S1 can't hold, then a retest of the S2 S/R flip also generally retains the overall bullish structure. Accumulation between S1 and S2 before moving higher, has some logic to it, especially on a higher time frame where we would be finding consolidation ontop of an important range from the first half of 2019 (see related ideas for our higher time frame ZIL chart). At S3 things start looking grim for the bulls. Breaking below S2 means momentum is lost and clearly bullish market structure is too. It isn't like S3 or even S4 can't act as support and eventually result in a move higher, but it is likely that the excitement and the bullish narrative gets lost with a retest of these levels. If we do end up going down below S3, we suggest looking to our longer-term ZIL outlook in the related ideas below. Resistance: In terms of local support and resistance, there is only one level to contend with, that is the R1 bearish S/R flip. If bulls can break above R1, we are likely going to run unless the broader market pulls back with enough intensity to stop alts from running. Summary: The bulls will want to S1 or S2 hold and then R1 broken quickly. The longer ZIL corrects, and the deeper it corrects, the more momentum is lost. While there is a bit of good news like Binance staking to help hold up price, momentum and bullish structure is the main thing ZIL has going for it, so bulls want to focus on retaining that above all else. Resources: twitter.com Hit that 👍 button to show support for the content and help us grow 🐣
by AlphaBotSystem
8
ZILLIQA 👁️‍🗨️| How Zilliqa Can Help The 9th Season Of GOT🔞Zil has made a mind-blowing 1,200% run since the COVID bottom, despite being in a longterm downtrend before that. While the trend still good, ZIL is coming into a heavy amount of resistance. Will the bulls keep this momentum going, or is ZIL ultimately headed back down? Let's take a look at some levels to see what both the bulls and bears are up against. Support: As you a see, there aren't a ton of support levels showing on the chart. This is because the velocity of the most recent move has made it so we can only detect some key levels on lower time frames. Within the first range on the chart, there are notable support. Even though its levels can't be seen here, this is the ideal place for bulls to find support if there is a pullback. The S1 S/R flip and the S2 S/R and orderblock both give the bulls a chance to revisit lows if we do head down there, although the trend will be pretty dismal at that point. Meanwhile, at the bottom, we have one last bullish S/R flip that may act as a support of last resort at S3. Resistance: The bulls have a lot of resistance to contend with above. First up Is the R1 bearish S/R flip and orderblock cluster, after is the R2 S/R flip. These both come from the range formed in 2018 before the big drop. It'll be important for the bulls to make it up here and find support (without fully breaking momentum) if they want to contend with higher levels. Our next resistance after is the swing high of that aforementioned move at R3. Above R3 is the R4 orderblock that was formed on the way down during the immense downside move. Continuing up we have the R5 orderblock + S/R flip cluster. Again, these two come from a range made on the way down in 2018. At R6 we have an orderblock near the range highs of the noted range. Next, we have R7 which is an S/R flip that seen heavy respect as price attempted to swing up. Lastly, we have the R8 and R9 bearish orderblock which are the last points of resistance for the bulls before making all-time-highs; an unlikely, but possible, event. Summary: The bulls need serious momentum to keep going, but the longer it goes the more overextended the move becomes. Support will need to be found eventually, but stopping to find support means losing momentum, which may be worse than becoming overextended. Bulls are playing a dangerous game, but this trend is jaw-dropping and so are the returns so far. Resources: twitter.com ✨Drop a comment asking for an update, we do NEW setups every day! ✨ Like, Comment & Follow to help the community grow 🎉🎉
by AlphaBotSystem
12
#ZIL/BTC (June 10)ZIL is our super signal that I recommended all to buy it when it was at dip. And at this moment, it is so crazy and if you didn't have a map for it, you would be lost. Next target of ZIL is about 330sts that you should get out because its volume is decreasing gradually, and 330sts is also the super resistance zone that you will not want to bet on it After sold everything at 330sts, we will wait to buy it back at 225sts for the last wave ride to above 400sts Remember, 200-225sts is the only support zone that we can believe in.
by CryptoStation
1