ZECUSDT Falling Wedge| 00 MA Support|Local S/R Flip|Bullish Div
Evening Traders,
Today’s second analysis – ZECUSDT- trading in a falling wedge pattern that typically breaks bullish,
Points to consider,
- Price Action Bullish
- Local S/R Support
- Swing High Target
- RSI Divergence
- Volume Influx
ZECUSDT’s immediate price action is bullish trading towards its apex, this allows us to have a bullish bias on the market.
Local S/R is in confluence with the 200 MA as support that has been respected, breaking this level will negate our bullish bias.
The swing high is immediate target, breaking above will establish a new local high and increase the probability of trend continuation.
The RSI has a valid bullish divergence, this signals momentum shifting in the immediate short term,
There has been a valid volume climax node, climactic volume usually is indicative of a temporary bottom being set.
Overall, in my opinion, ZECUSDT is a valid long with defined risk, price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
“It is always the best discretion to let the market show us where it is going and just simply follow (this would be prudent), rather than predict where the market is going and place a position (this would be gambling).” -Anne-Marie Baiynd’
Today’s second analysis – ZECUSDT- trading in a falling wedge pattern that typically breaks bullish,
Points to consider,
- Price Action Bullish
- Local S/R Support
- Swing High Target
- RSI Divergence
- Volume Influx
ZECUSDT’s immediate price action is bullish trading towards its apex, this allows us to have a bullish bias on the market.
Local S/R is in confluence with the 200 MA as support that has been respected, breaking this level will negate our bullish bias.
The swing high is immediate target, breaking above will establish a new local high and increase the probability of trend continuation.
The RSI has a valid bullish divergence, this signals momentum shifting in the immediate short term,
There has been a valid volume climax node, climactic volume usually is indicative of a temporary bottom being set.
Overall, in my opinion, ZECUSDT is a valid long with defined risk, price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
“It is always the best discretion to let the market show us where it is going and just simply follow (this would be prudent), rather than predict where the market is going and place a position (this would be gambling).” -Anne-Marie Baiynd’