alanmasters
Long

Zilliqa Bullish Double Bottom Plus Broken DownTrend

BINANCE:ZILBTC   Zilliqa / Bitcoin
Here we have the chart for Zilliqa ( ZILBTC ), which is looking beautiful and can potentially produce a strong breakout to the upside…

Let's take a minute and look at this chart together...

  • First, we have a double bottom , ZILBTC hit the same low at 0.00000132 BTC on the 28th of June and the 4th of July, this is a bullish pattern .
  • We can also see the bullish divergence on the MACD and RSI , purple arrows. Notice how the price is going down while the indicators are moving up. This is a very strong and accurate signal but it doesn’t always play out, it can be invalidated.
  • This double bottom pattern also happens to be a new all-time low on Binance for ZILBTC , making this a retest of the low… Probabilities are high for a move to the upside here.
  • The RSI is also moving out of oversold and there is a recent break/challenge of EMA5.

Conditions for change: If ZILBTC moves lower and closes below 0.00000132 BTC on the daily time frame, the above signals become invalid and a new analysis is needed.

Thanks a lot for reading.

Namaste.
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Amazing content, keep it up mate :)
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alanmasters Make_Money_Guru_Bitcoin
@Make_Money_Guru_Bitcoin, Will do... Thanks.
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this is example for you so please take care almost of Alt coin it will go same way of Zil
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@nabhan71, Thanks a lot, appreciated.
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nabhan71 alanmasters
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