Looking at ZILBTC over the past few weeks I've been looking to add it to my portfolio again, but it's held up surprisingly well against the other alts during the bearish BTC season.
That having been said, from looking at the chart it has reached the end of an almost symmetrical triangle and needs to make up it's mind. Does it follow the rest of the market or does it continue to plot it's own path?
If it does retrace to follow the market slump, I'll be keeping my eye on the fib lines in the chart for possible buys. You will notice that these fib lines price points were areas of consolidation on the way up, so we can expect them to be reactionary again. These support points are highlighted by the thick green line segments on the chart.
When the market is bearish, the best thing to do is to load up on alts which will make good long term investments. This is not the time to enter swing trades.
That having been said, from looking at the chart it has reached the end of an almost symmetrical triangle and needs to make up it's mind. Does it follow the rest of the market or does it continue to plot it's own path?
If it does retrace to follow the market slump, I'll be keeping my eye on the fib lines in the chart for possible buys. You will notice that these fib lines price points were areas of consolidation on the way up, so we can expect them to be reactionary again. These support points are highlighted by the thick green line segments on the chart.
When the market is bearish, the best thing to do is to load up on alts which will make good long term investments. This is not the time to enter swing trades.