$ZK Update
The scenario remains valid. ZK is still in a downtrend, and we're looking for potential entry points for short positions.
🔽 Short Position Strategy
Entry Opportunities:
🔼 Long Scenarios
Impulsive Breakout Above $0.20: This should be accompanied by the formation of weekly FVGs, indicating strong bullish momentum.
Counter-Trend Long Option at $0.12 - $0.11: There's an option for a counter-trend long position from the FVG in the $0.12 - $0.11 zone. Acceptable but Against the Trend... Look for signs of price stabilization or reversal patterns within this zone before entering. Implement strict risk management, such as tighter stop-loss orders.
📌 Key Levels to Watch
$0.15 - $0.20 Zone - Potential area for short entries during a short squeeze.
$0.20 - Critical level for a potential trend reversal to the upside.
$0.12 - $0.11 Zone - Potential area for counter-trend long positions from the FVG.
📝 Trading Outlook
The asset remains in a downtrend; thus, strategies should primarily align with the prevailing market direction. Utilize newly formed daily FVGs as entry points. Ensure that movement deceleration and suitable setups are present before entering positions.
Only consider long positions if there's a strong impulsive move above $0.20 with the formation of weekly FVGs. While risky, a counter-trend long position from the $0.12 - $0.11 FVG zone is acceptable. Be prepared for potential volatility. Use tight stop-loss orders and define clear profit targets.
🔍 Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Cryptocurrency trading involves significant risk. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.
🔽 Short Position Strategy
Entry Opportunities:
- Look for entries into short positions at newly formed daily FVGs.
- Consider entering short positions if there's a short squeeze pushing the price into the $0.15 - $0.20 zone. This is contingent upon the formation of movement deceleration with appropriate setups.
🔼 Long Scenarios
Impulsive Breakout Above $0.20: This should be accompanied by the formation of weekly FVGs, indicating strong bullish momentum.
Counter-Trend Long Option at $0.12 - $0.11: There's an option for a counter-trend long position from the FVG in the $0.12 - $0.11 zone. Acceptable but Against the Trend... Look for signs of price stabilization or reversal patterns within this zone before entering. Implement strict risk management, such as tighter stop-loss orders.
📌 Key Levels to Watch
$0.15 - $0.20 Zone - Potential area for short entries during a short squeeze.
$0.20 - Critical level for a potential trend reversal to the upside.
$0.12 - $0.11 Zone - Potential area for counter-trend long positions from the FVG.
📝 Trading Outlook
The asset remains in a downtrend; thus, strategies should primarily align with the prevailing market direction. Utilize newly formed daily FVGs as entry points. Ensure that movement deceleration and suitable setups are present before entering positions.
Only consider long positions if there's a strong impulsive move above $0.20 with the formation of weekly FVGs. While risky, a counter-trend long position from the $0.12 - $0.11 FVG zone is acceptable. Be prepared for potential volatility. Use tight stop-loss orders and define clear profit targets.
🔍 Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Cryptocurrency trading involves significant risk. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.
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