The Trust Layer for Market Analysts

The analyst discusses ZECUSD on November 23, observing a current price of $578.63. The analyst suggests that a double top may be forming, but indicators on the hourly chart, such as RSI, stochastics, and MACD, all look positive. They identify what resembles a bull flag. Fibonacci retracement levels on the 4-hour chart suggest a potential bounce at the 0.382 level, targeting $670-$701. The analyst theorizes that ZECUSD will close the day above $600 or even $630, potentially reaching $700. The week's outlook points to a close above that will include substantial wick to the downside. The analyst says that breaking below $550 will push to lower levels of $500, however that if the current level is held the price may persist higher. The analyst makes the assumption the price will reach a 1.272 fibonacci level. Therefore, to make any sense of the overall price action, $500 must hold; the overall assumption is bullish if higher lows are held.