Seems like the ZAP cycle is finishing up here.
Reasons to be bullish:
Reasons to be bearish:
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.
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.