We all know what happened with ZEC after that fake pump it did a few weeks ago. Since the 300/310 support broke it made a big dump to the previous low. Now it seems the correction up is not over yet, has made a very convincing bullish triangle. Chances are very high it will break upwards, but there is a chance it will make a false break down first. That's why i drew both lines.
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Note
Below this area anything can happen! It has already dropped to much to still be in the bullish momentum, now it's 50/50 below the the second green it's 75/25 bearishNote
This trade was complete crap, i thought it would make a good small pump because of that listing from a few weeks ago. Since it had dropped from the 390 high already, but this weak movement only confirms that big pump we had then, was even faker than fake! I knew a drop from that triangle was possible, but i did not expect it to drop this much
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.