#ZEC Daily chart update: the bears’ attack failed. The bears originally wanted to create a sell-pressure range on the daily chart, but it’s clearly visible that the close firmly held the key support and did not break below this level.
This has once again prompted the market to challenge new highs on the daily chart, and in the end, the final K-line directly broke upward. The target around 1615 that I had previously forecast has already been reached. Judging from last week’s price action, the next peak high is likely around 1781.
For the bigger trend, the primary target still looks to be 3200—this is my expectation for this whole main upswing. The market structure remains bullish, and for now there hasn’t been any major reversal pattern worth worrying about.
This has once again prompted the market to challenge new highs on the daily chart, and in the end, the final K-line directly broke upward. The target around 1615 that I had previously forecast has already been reached. Judging from last week’s price action, the next peak high is likely around 1781.
For the bigger trend, the primary target still looks to be 3200—this is my expectation for this whole main upswing. The market structure remains bullish, and for now there hasn’t been any major reversal pattern worth worrying about.
