It Can Be Another Classic Move Of Zilliqa (ZIL)

in DTube6 months ago (edited)

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Brokedown the channel and key level support:
The price action of the Zilliqa coin was previously moving in a very long up channel . After breaking down the support of the channel the priceline turned is very strong bearish but found very strong support at $0.06. The $0.06 is key level support for the price line of is Zil. Because it has been working previously as very strong support for the price action for a very long time period. It can be seen that before the formation of the up-channel for several days the $0.06 level has been working as very strong support. Therefore, it will be very difficult for the PI fine to break down the support.

Big bullish BAT:

On the weekly time frame chart, the price action has formed a bullish BAT .


The buying targets as per the Fibonacci sequence of this bullish BAT can be as below:
Buy between: $0.0948 to $0.0745

Sell between: $0.1433 to $0.2161

As per the above targets, this trade has a profit possibility of up to 190%, and the loss possibility is 22%. It can be seen that on the weekly chart, the priceline is moving below the potential reversal zone of the bullish BAT but there is a very strong key level support at $0.06. Therefore, we can set this level as stop loss, rather than the maximum extent of the potential reversal zone and follow the sell targets as per the bullish BAT pattern.

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Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.

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