ZEC retracing to set the momentum for the next leg up. I will certainly add back at .02905:
1) Forming a bit of a cup and handle which has the proper volume profile for it as volume is decreasing on this trip downwards forming the handle.
2) Retrace of last move up and the bottom of cup has a .5 retracement at .02905
3) The light blue line is a long term trend line that is acting as the Adam and Eve break line so a retest of that line and bounce up would be EXTREMELY bullish with a target of around .0334 but ultimately would signal a bullish trend.
4) The Kijun on many time frames is also in this exact .02905 region.
5) RSI will be able to reset its momentum and treat 50 as the support level for a wave up.
Most alts look very similar to this right now after the last week and especially last 2 days. They are retracing and so the next 24 hours is massive for alt season. I would guess a lot also relies on ETH. Will ETH hold its own retracement to around .0645
1) Forming a bit of a cup and handle which has the proper volume profile for it as volume is decreasing on this trip downwards forming the handle.
2) Retrace of last move up and the bottom of cup has a .5 retracement at .02905
3) The light blue line is a long term trend line that is acting as the Adam and Eve break line so a retest of that line and bounce up would be EXTREMELY bullish with a target of around .0334 but ultimately would signal a bullish trend.
4) The Kijun on many time frames is also in this exact .02905 region.
5) RSI will be able to reset its momentum and treat 50 as the support level for a wave up.
Most alts look very similar to this right now after the last week and especially last 2 days. They are retracing and so the next 24 hours is massive for alt season. I would guess a lot also relies on ETH. Will ETH hold its own retracement to around .0645