XZC->BTC, market psychology

Charting can be hard when there are so many market variables not being taken into account by indicators. First, let's talk about Zcoin, with $ZEC taking a hit recently and $XMR running away with significant market share you might think that the anon coin market isn't looking that great... but the reality is the reward structure of $XZC even before taking into account the actual fundamentals are very appealing to new "investors". As gimmicky as you might think the approach is, $XZC has very sound fundamentals, an active dev team but spend nearly no time promoting their "brand", with only discord and a very innactive reddit there still hasn't been the hype you would expect behind this project. If you look at the chart above you will see that it was looking very bullish at an early entry point and it might not seem now... I think this is mostly due to the large panic funneling of money OUT of the crypto mcap, and then back INTO btc during the run up. You will often witness some alts be lagged vs btc market after such big positions are taking off (i.e. $NEO/$OMG). So in sum, I don't believe this chart tells the full picture, I'd keep an eye on the accumulation zone and look to take a significant long position once we reach a confluence of indicators.

This isn't investment advice, but if you do decide to do so remember so set a stop loss if it breaks support line!

Cheers!


EDIT: Also thought I should add, their masternodes are currently being run on the testnet and no official date has been set for the release, which is mostly why the hype died down and this *could* be a good chance to get an entry!

Comment:

masternodes still delayed, waiting on a catalyst

Comment:

breakout finally happened, anyone who bagheld and forgot to set a stop loss will be happy :)