ZILBTC Major retracement likely coming
Zil has seen multiple 1.618 extensions with no major retracement
Given the overextended waves and lack of retracement this coin is likely to see a long drawn out retracement down.
Most common buy zone is marked on chart and would start at 1508. For the reasons below, I will wait before entering this trade.
Safest entry would be to wait to see if .786 retracement happens. USD value drop is unlikely to be as significant as the btc drop; most likely scenario is Zil fails to climb to new highs on next btc pump and sees a series of lower lows into the buy zone.
Recommended buy zone: 1075-935
Given the overextended waves and lack of retracement this coin is likely to see a long drawn out retracement down.
Most common buy zone is marked on chart and would start at 1508. For the reasons below, I will wait before entering this trade.
Safest entry would be to wait to see if .786 retracement happens. USD value drop is unlikely to be as significant as the btc drop; most likely scenario is Zil fails to climb to new highs on next btc pump and sees a series of lower lows into the buy zone.
Recommended buy zone: 1075-935
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