ZIL/BTC accumulation preparing for a 50-90% move
ZIL/BTC has notably visible signs of accumulation during the past 3 months in this range.
Entry zone: 68-60
Stop loss below the 50 mark, as we don't want to see new lows from here, since that wick below the previous lows and the reclaim back above into the range are providing a clear point which we use to measure risk for this setup.
A daily candle close below 60 would also make me cut this trade.
This is one of the setups that will take time to play out.
My estimate is within the next two months.
One way to avoid waiting and trapping capital in this is to buy only after a high volume breakout above 78 (higher high).
Entry zone: 68-60
Stop loss below the 50 mark, as we don't want to see new lows from here, since that wick below the previous lows and the reclaim back above into the range are providing a clear point which we use to measure risk for this setup.
A daily candle close below 60 would also make me cut this trade.
This is one of the setups that will take time to play out.
My estimate is within the next two months.
One way to avoid waiting and trapping capital in this is to buy only after a high volume breakout above 78 (higher high).
Volume increasing with price.
It's at an important level now where I mentioned I want to see a strong clean break above 78 on this timeframe.
Once that happens, we should see it start a more sustained run towards the 1st target.