ZILUSDT - Bullish bias for the midterm
TECHNICAL ANALYSIS:
Cup and handle formation on the weekly timeframe. This could lead to a bullish breakthrough of immediate resistances [at around 23c & 03c] and might shoot up to 05c in the midterm. Time will tell how much further it could possibly go. Global support at around 016c, which thankfully hasn't been breached yet when BTC made it's moves.
Timeframe given on the chart is for reference and may not be accurate, it could stretch a little while longer to reach the potential targets
Setup will be invalidated when:
- Global Support is lost
- BTC makes any major move
- Fails to break resistance after handle formation
DISCLAIMER:
This is a noob idea, I am nowhere close to an advisor. Please DYOR and DD. You are responsible for your own profit or loss, I may also have been inaccurate in plotting support and resistance lines.
Cup and handle formation on the weekly timeframe. This could lead to a bullish breakthrough of immediate resistances [at around 23c & 03c] and might shoot up to 05c in the midterm. Time will tell how much further it could possibly go. Global support at around 016c, which thankfully hasn't been breached yet when BTC made it's moves.
Timeframe given on the chart is for reference and may not be accurate, it could stretch a little while longer to reach the potential targets
Setup will be invalidated when:
- Global Support is lost
- BTC makes any major move
- Fails to break resistance after handle formation
DISCLAIMER:
This is a noob idea, I am nowhere close to an advisor. Please DYOR and DD. You are responsible for your own profit or loss, I may also have been inaccurate in plotting support and resistance lines.
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