$ZKC — +78% move, but would I buy here?
$ZKC
has made a pretty strong move today, going up more than 78% in a very short period.
The trend is clearly bullish on the short timeframe, but after a move like this, I don't think chasing the price here is the best idea.
I'm watching two possible entries.
Pullback entry: $0.0680–$0.0695
Breakout entry: above $0.0745, but only if we get a strong 15M candle close above it with good volume.
The main support I'm watching is around $0.0668–$0.0680. The recent high is around $0.0744, so that's the level bulls need to break if they want to continue higher.
My targets would be:
TP1: $0.0744
TP2: $0.0780
TP3: $0.0820
Stop loss: below $0.0665
Volume has increased a lot during this move, which is a positive sign. But at the same time, a 78% move in such a short period means the coin is already quite extended. A pullback wouldn't surprise me at all.
Personally, I would rather wait for the $0.0680–$0.0695 area and see how price reacts there, or wait for a confirmed breakout above $0.0745.
For now, my short-term bias is bullish, but I wouldn't call this a low-risk entry.
Would you take the pullback or wait for the breakout?
Not financial advice. DYOR and manage your risk.
#ZKC #bitcoin #KoreaSingleStockLeveragedETFTradingFalls
$ZKC
has made a pretty strong move today, going up more than 78% in a very short period.
The trend is clearly bullish on the short timeframe, but after a move like this, I don't think chasing the price here is the best idea.
I'm watching two possible entries.
Pullback entry: $0.0680–$0.0695
Breakout entry: above $0.0745, but only if we get a strong 15M candle close above it with good volume.
The main support I'm watching is around $0.0668–$0.0680. The recent high is around $0.0744, so that's the level bulls need to break if they want to continue higher.
My targets would be:
TP1: $0.0744
TP2: $0.0780
TP3: $0.0820
Stop loss: below $0.0665
Volume has increased a lot during this move, which is a positive sign. But at the same time, a 78% move in such a short period means the coin is already quite extended. A pullback wouldn't surprise me at all.
Personally, I would rather wait for the $0.0680–$0.0695 area and see how price reacts there, or wait for a confirmed breakout above $0.0745.
For now, my short-term bias is bullish, but I wouldn't call this a low-risk entry.
Would you take the pullback or wait for the breakout?
Not financial advice. DYOR and manage your risk.
#ZKC #bitcoin #KoreaSingleStockLeveragedETFTradingFalls
