$ZK is breaking out of a giant Falling Wedge on the weekly 👀Smart Chart Analysis
1- **General Trend:**
The chart shows a downward trend with
prices experiencing a series of lower highs
and lower lows, forming a descending wedge
pattern.
2- **Market Structure:**
The market is in a bearish phase,
characterized by the descending wedge. This
structure often indicatesa potential reversal
or breakout if it consolidates at the bottomn of
the pattern.
3- **|ndicators in the Chart:**
The Relative Strength Index (RSI) at the
bottom shows bullish divergence, with rising
lows while the price makes lower lows. This
can suggest weakening bearish momentum.
4- **Some Advice:**
Considering the descending wedge and
the RSI divergence, be on the lookout for a
potential bullish breakout. However, confirm
this with volume or other indicators before
making decisions. Be mindful of fake
breakouts and manage risk accordingly.