Zeepin (ZPT): Which Pattern Does It Prefer?

in #zeepin7 years ago

SUMMARY

ZEEPIN (ZPT/BTC) seems to have a propensity towards symmetrical triangles. Some altcoins prefer rounded formations, some prefer flags; but the second most common pattern is the symmetrical triangle. The below chart shows a triple sequence of them. The price broke out of the larger blue symmetrical triangle and has started impulsing upwards while forming two pennant like patterns. Given how the MACD looks oversold, price should breakout out of the current pattern (white arrow).

Now, see how the whole series is pretty much embedded in the large CUP formation (purple). This is very common for cryptos and adds to the emphasis of the primary trend. The handle is equated to the most recent symmetrical pattern. I believe higher highs are likely to be seen.

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While I tend to agree with the technical analysis, I wonder if the volume of Zeepin is high enough overall to fully realize market movements as technicals would predict. Just some food for thought

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