Zil:Eth sideways channel gives opportunity to day trade
TL:DR - Price is stuck in a sideways channel. The tops and bottoms make attractive places to go short and long respectively.
This is the Zil:Eth chart with 4h candles. We appear to be stuck in a sideways channel for the last 3 weeks. The bottom of the channel is an attractive place to open longs while the top of is a place to take profits on those longs. This type of pattern can obviously be used by day traders until it breaks down. HODLers looking to dollar cost average in can also wait for price to near the bottom of channel before placing their buy orders.
I have no trades right now on Zilliqa as I am neither looking to add to my position nor daytrade.
***This is not investing advice. I am not an investing professional. Do not invest what you cannot afford to lose. All investors should seek guidance from licensed financial advisers and not random people on the internet.***
This is the Zil:Eth chart with 4h candles. We appear to be stuck in a sideways channel for the last 3 weeks. The bottom of the channel is an attractive place to open longs while the top of is a place to take profits on those longs. This type of pattern can obviously be used by day traders until it breaks down. HODLers looking to dollar cost average in can also wait for price to near the bottom of channel before placing their buy orders.
I have no trades right now on Zilliqa as I am neither looking to add to my position nor daytrade.
***This is not investing advice. I am not an investing professional. Do not invest what you cannot afford to lose. All investors should seek guidance from licensed financial advisers and not random people on the internet.***