What we have here- Highlighted above is what happens every time there is a daily cross up on the stochastic. 1. 21st Sep to 2nd Oct - 72% rise. 2. 25Th oct to 25th nov - 119.45% rise. 3.10th Dec- 27Th Dec - 255% rise.
Now, the RSI has bounced off the support beautifully, however, the price is reacting strongly to the long term accumulation trend line which is the major overhead resistance that zil will have to overcome to give us another statistically probable move to the upside riding on the momentum provided to us by the stochastic cross on the daily.
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Let me know what you guys think in the comments below- Am I seeing what I want to see? Or are you guys also seeing what I think the charts are saying..
The barrier now for zil is 0.085. it failed to breach through 0.085 and keep dipping back to 0.070.
whereislucas
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It looks like a very good set up. BUT is BTC going to bring down the house of cards at any moment?
crested-serpent
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@whereislucas, that's the variable, if BTC corrects, bye bye gains XD. And with what is happening in the US, is this the black swan event that not everyone was ready for but expected??
whereislucas
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@crested-serpent, I cant believe its going higher right now! just crazy. Makes me very wary to even trade any alts
crested-serpent
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@whereislucas, crazy- the markets in one word post march 2020. When and if the ball does drop there will be gallons of blood in the street, levels of euphoria only been this high in 2000 and '07.
whereislucas
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@crested-serpent, Theres got to be a point where the people investing millions or a billion in BTC say sell all now, dumping on the retail investors after they have doubled their millions and billions and just scoop up the bottom. Why not?! They said they will hodl for life, I dont think so.
DmChaos3
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@crested-serpent, in order for alts to really pump we need to see btc dominance drop.. dominance dropping would equal price drop to. That's what happened in 2017 2018... My portfolio went to from 5k to 1k, then to 15k