The best way to profit on the bullish side is to buy in an uptrend or buy when the trend changes from down to up. A reversal pattern at the lows allows us to enter into a new developing uptrend at a low-risk. If the trend sustains, we can ride it up. One such bullish reversal setup is the inverse head and shoulders (H&S) pattern. We find this pattern on the Zcash/Bitcoin pair; hence, we want to buy it.
Key Observations
Zcash/Bitcoin is forming an inverse head and shoulders pattern at the lows.
We believe the cryptocurrency pair will start a new uptrend.
Buy ZECBTC at 0.047, SL 0.0315, Target 0.0744 and 0.1022