ZAP/USD DYOR Big possibility when I look at the monthly/weekly chart,
ZAP is a sleeping giant that has its own way beyond the other cryptos
Plz. DYOR
ZAPUSD trade ideas
ZAPUSDZAP is currently bearish. We are currently in a short term symmetrical triangle. I believe this is a great opportunity, however, we need to wait for confirmation to buy.
Steps to take:
1) Buy if daily candle open/closes above blue downtrend line or Engineering Robo gives multiple buy signals (combination of two, Buy 3, Buy 4, Super Buy, Moon)
2) Sell if daily candle open/closes below current support line
3) Hold as long as current support lines are held
ZAPUSD RetraceFinished the retrace of 75% for the second cycle and building for the third move up.
Also finding bullish divergence on the 1D chart is a key indicator of a reversal.
Expecting this move to make significant traction towards the end of the week, with the potential to approach ATH.
ZAPLINK CycleSeems like the ZAP cycle is finishing up here.
Reasons to be bullish:
Higher low on the daily timeframe.
Hidden bullish divergence.
Beneath 50d MA.
Consolidating for over twice as long as previous move (38 vs. 14 days).
Reasons to be bearish:
Only 68% retracement from second pump compared to 82% in the first pump.
RSI losing steam at resistance.
Need to see big moves this weekend from both LINK and ZAP, otherwise, we could see this pattern consolidate for some time as well as further movement down before a big rip up.
ZAP Breakout ZAP looks to have bottomed, forming the right shoulder for the inverse head and shoulders and then should take off. Volume, RSI, trend all looking strong. Retesting a major horizontal.
ZAPUSDT : Buy OpportunityTechnical Analysis using Elliott Wave Principle
The price breaks ending diagonal channel of wave (5). If this count is correct, I expect more upside movement since the correction wave A-B-B(blue) is completed.
Wave (5) also landed beautifully at 0.786 fibonacci retracement level.
RSI hourly shows bullish divergence may confirms trend reversal.
Stop loss at the bottom of wave C.
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