Please keep in mind that this coin currently has no devs and is basically in fundamental hell. This trade is banking on the fact that buyers will eventually return and we're securing a position in the market now in hopes of new developers picking up ZCL. We've been watching this coin since its fork around the $150 US mark and have been watching its decline all the way to $5. That is over a 90%+ decline!
We think this is a great spot to buy from the current data that is given to us, and will remain bullish until we see signs of bearishness. I really like how this chart is looking and the cryptocurrency market is starting to show some signs of recovery. If we look at a previous pattern when ZCL recovered from a previous hard decline it created a pretty similar pattern to what we see now.
This is a coin you can just throw a small percent of your account into and forget about it!
Entry 68000 satoshis. Stops below 56000 satoshis.
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Showing bearish signs, we're gonna be on the sidelines for now. Closed for breakeven!
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Tight stops, previous support
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Wow, we're up an insane amount. We're going to adjust our stops to our entry now!
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up 100% so far!
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adjusted stops! next possible movement.
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more than 200%+ profits so far. Nice catch congrats to all that rode this with us! Can expect to see a pullback... depending on the structure of the pull-back we'll see if the bull move will continue. As of now we've taken profit.
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very similar pattern to yesterdays, expecting another explosive move upwards! Tight stops below previous support
I wouldnt touch this coin really unless it is a safe trade because the price drop was due to the same reason it pumped the BTCP fork..both of these projects had outdated code of the Zcash fork... plus devs were not working on this until the fork happened..
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@Tangent1, Yup, we're being extremely careful about this one!