ZCL movement is looking still determined to move up even though it's being somewhat held up by Bitcoins larger retrace.
This is the road map for the next couple of days if nothing surprising happens. ZCL is steadily moving up to set up the base for the big launch.
Pros:
- MACD hasn't even bulged on the daily chart so the buying hasn't really started yet compared to the previous fork. - Volume spike 2 is still being withheld, It will emerge with MACD. Awaiting rally. - RSI is cooling down to setup for the next move up, starting to look ideal. - Fork date is closing in and is expected to build up momentum as more and more buyers are encouraged to enter a position.
Cons:
- Bitcoin is as always a big uncertainty and cause havoc moving either up or down. - News concerning the fork, f.e. if exchanges are to support the fork by giving the "airdrop" (ANON 1:1) on fork date.
If this scenario plays out we are possibly looking for a parabolic "triple up and no down" spike in price (presumably hitting ath) and it will not offer any more re buys as it moves up.
ETA to ATH is -11days.
Comment
⋅
This is the big picture: (REMEMBER: DYOR, THIS IS EDUCATIONAL AND NOT TRADE ADVISE!!!)
Comment
⋅
CORRECTION in image: Overlay is in GREEN color and not white, misspelled, sorry. :)
Comment
⋅
Lack of volume and the situation with Bitcoin, people are afraid to buy in at this point.
MACD is touching 0.0 and will test it for support. RSI is showing the sideways movement, not moving up nor down holding 50.
Big resistance of the big "symmetrical" triangle is being pierced, but with really low volume. A wave up would be really good for confidence to bring in more buyers.
On the 15th of august is the announcement of exchange support/listings. - First scenario is that ZCL will move sideways until that announcement. - Second scenario is that we move up prior the announcement and more rapidly in the anticipation of the news.
Usually trend is 9 out of 10 more likely to go down, but I just cannot see it happening with ZCL. Looking at just the announcement of ANON fork got the price up to 0.00400, and that was in the middle of bear season. At worst ZCL will keep this price until fork, but not likely.
Comment
⋅
Some activity happening in the order book, buy wall support suggesting a break out up. Higher lows and touching the upper resistance could break on next try, getting really thin now with lots of support under.
Comment
⋅
Second thought...
If we are going to explode up, there is almost always a bear trap and stop-limit trigger before lift of. Usually when there are big buy walls, they tend to get eaten. Basic whale movement. Big buy wall makes people confident to buy in, then when it gets eaten, everyone panics, and sells, this is just the whale trap.
I would stop limit right now. @ .00190
Targets:
00200 00215 00228
Possible collapse down to 00170 before lift off.
Re entry @ 00190 / "stop buy" @ 00235
Be safe!
Comment
⋅
Possible movement
Comment
⋅
Comment
⋅
This is a good push out of the pennant, volume starting to move up. Resistance @ 00200
Comment
⋅
Looking good. But this can drop really fast if the whales want to...
Comment
⋅
Trade active
⋅
So it begins... Pushing through stops.
.00240 will be important but I bet there will be a small correction back to .00220 or little under, testing it as support before lift off.
@bnqview is this fakeout or real pump? what r the long term targets ? thanks.
bnqview
⋅
@kulie, This breakout looks to hold pretty well. Long term with ZCL is always risky, but I think there is potential for up to 1000%. Important to have lots of targets to cash out winnings and sticking with them, so you don't end up a "bag holder". On the other hand, If this goes parabolic (straight up), it's going to rise in price without big pullbacks, so a SL hanging behind about 20% away could be safe way to enjoy the total ride. At your own risk tho.
@bnqview, what if it never breaks 240k and just dump back to 100k sats ?
bnqview
⋅
@kulie, that is why a SL is good to have. for example, so when it's trying 240 you could take small profits, and re enter if it continues or drops, or have a SL at 210, in case it collapses. There are many ways. One rule is, as long as you come out with profit, you're doing it right. ;)
kulie
⋅
@bnqview, yea i understand that part , but whats the chance that it collapses without breaking 240k or any highs? its probably low maybe considering the hype around this fork?
bnqview
⋅
@kulie, Yeah, I am expecting this to hold and start to ride as the fork gets closer, but in crypto you are more often wrong than right, so stay safe.
kulie
⋅
@bnqview, ok thanks! please continue to update the chart frequently .... :))
mahesh3738
⋅
Need updates on zcl.. is the triangle broke out..
BEFBUNNY
⋅
Good graph But I think that ANON fork will get a lot of FUD...
bnqview
⋅
@zarnertony, that is ofc possible, and the nature of trends and tend to surprise. :) thank you for the response!
I think the announcement of airdrops on exchanges or if it's not supported, will have an impact on the 15th Aug. which by my estimate would be somewhere in the middle of the climb. Stop limit stuff.