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Chibuike_Odoh
Feb 17, 2021 9:00 AM

ZECUSDT (ZCASH) - UPTREND CONTINUATION  Long

Zcash / TetherUSBinance

Description

ANALYSIS 🔎
- ZECUSDT hit swing high.
- The market then retraced for a retest of the flip horizontal support (S1) and fibonacci retracement levels.
- A bullish pin bar (hammer) was formed at the retest area.
- Price action is printing a pennant chart pattern.
- A pennant chart pattern is a trend continuation pattern. In this case, a bullish continuation pattern.
- There's an uptrend continuation possibility.

BUY ENTRY ⬆️
- Breakout above the pennant's inclined resistance.

TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Fibonacci extension levels.

SETUP INVALIDATION ❌
- Breakdown below the pennant's inclined support.
Comments
TradingTimer63
what are your thoughts on ETCUSD?
Chibuike_Odoh
@abiraj05 I'll run an analysis on it soon
TradingTimer63
@Chibuike_Odoh Thankyou!
Chibuike_Odoh
@abiraj05 👍
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