Zclassic (ZCL) has been sold all the way back to the stone age. Showing extremely oversold on the RSI and reaching incredible lows on every single charts.
Gains made in the past three months were completely obliterated in just a few days, and now comes an opportunity for a short run. But don't expect it to go that high, as there can be millions of bag holders waiting to sell.
Either way, the chart looks good for some short term and swing trades (for advanced traders).
The daily chart allows for plenty of room for growth.
What is your opinion, how should we trade this coin?
Note: This is not a trade suggestion. I am posting this, just asking questions...
Please share your opinion in the comment section.
What would you do my friend, in this situation?
Namaste.
Comment
⋅
Beginners, please be careful with this one. Good money can be made but the risk is extremely high.
Have a plan, follow a strategy on don't trade based on the 5 minutes chart.
Also, don't get locked to the screen and trade based on emotions, as fear can push me to make some bad decisions.
Play safe, and invest only what you can afford to lose.
Don't put all of your eggs in one basked; diversify.
"But don't expect it to go that high, as there can be millions of bag holders waiting to sell."
Not really. the current circulating supply is around 3.4 million. If millions are holding 1 zcl each, then may be, but at this price we doubt that ;)
The price of ZCL rose in anticipation of Bitcoin Private, which looks like a doomed coin itself. Bittrex and Kucoin are both refusing to enable BTCP trading. This gets us back to ZCL.
The most powerful selling point for ZCL is its low circulating supply. But then it can equally be pushed to $2 range. There are going to bag holders, yes, but they would be waiting to sell above $100. So TA and FA wise, this coin's chart is as complex as bermuda's triangle ;).
AlanSantana
⋅
@doctorkesh, But it went back down hard... as suggested.
UnknownUnicorn995432
⋅
@alanmasters, I completely agree. This coin rose from $2 to $200+ on the hype of Bitcoin Private, which is now being shunned by all major exchanges. And like any other coin in the cryptoworld, 'buy the rumor, sell the news' kicked in. ZCL fell down hard after BTCP fork happened.
ZCL has an equal chance of going to $2 and $100 at this time.
seiferflo
⋅
@alanmasters It has no absolutely no value. No TA can explain that curve as this is just a pure pump & dump for bitcoin private. I wouldn't waste my time on this.
stevezer0
⋅
@seiferflo, i dunno man, this coin is still listed on some of the largest exchanges. i can't see that being let go. another dev team will pick this up.
stopnow
⋅
@stevezer0, Another dev team IS picking this up. Do some research. This is very large blockchain and people are not going to just let it die.
stevezer0
⋅
@stopnow, you just stated exactly what I said, but again. thanks.
mokate
⋅
zcl is a dead coin yet again.
weslad
⋅
Hey guys check this ZCL seems like another set of break out is looming.
primiq
⋅
I'm out of this one, 100% later ! Thank you @alanmasters !
I am happy i didnt listen to my greed this time! Let's see what happens next :)
Not really. the current circulating supply is around 3.4 million. If millions are holding 1 zcl each, then may be, but at this price we doubt that ;)
The price of ZCL rose in anticipation of Bitcoin Private, which looks like a doomed coin itself. Bittrex and Kucoin are both refusing to enable BTCP trading. This gets us back to ZCL.
The most powerful selling point for ZCL is its low circulating supply. But then it can equally be pushed to $2 range. There are going to bag holders, yes, but they would be waiting to sell above $100. So TA and FA wise, this coin's chart is as complex as bermuda's triangle ;).