Many factors indicate an uptrend for ZEC: 1) BTCP snapshot was taken today which led to a dump in demand for ZCL 2) Chart patterns are almost identical to what happened before the last pump 3) MACD is showing similar movements like when the last pump happened 4) ABC-correction wave is already over
I opened a position at 0.0368BTC/ZEC
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If you have a look at the candle before the reversal back in 2017 it dipped quite huge (below support) I see the possibility that this can happen now as well. Meaning there should be a bullish engulfing candle either on Sunday or on Monday. I set a stop-loss at 0.03 BTC.
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Todays bullish engulfing candle could be the start of the bull run we are waiting for - Now things can get really interesting.
Agree on it all. Been watching the set up for a while now but bought in half at 37.5. Got headfaked. Probably should have waited on confirmation but I liked it too much lol. I think all we are missing to get this started in Volume.
Greecetom
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@CincyONU, Yes volume would definitely help now - However, I think starting with tomorrow people who might holder their ZCl in wallets for the fork send them back to exchanges and buy back ZEC.
I mean the only reason why ZEC performed that weak the last 2 months way the stupid BTCP fork which created huge hype for ZClassic and took away market cap from ZCash.
That should be over (Just look at ZCL - dropped by 70% already). ZEC is used to be a top10 coin and there is where I see it going back to now.
CincyONU
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@Greecetom, I sold off part of my position before this run down to play it a little safer, but not it's gotten interesting. 1100 buy wall providing support at 35k. Now a 650 sell wall went up at 35.5k. Obviously if the seller really intended to liquidate that many he would absolutely sell to the buy wall so you know it's bullshit (probably could guess that anyway) so I am guessing he's driving the price down completely as far as possible before removing it. Hell the same person could own both. I guess we'll see how this plays out.
CincyONU
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@CincyONU, **now it's gotten interesting** I meant
People are predictable, good analysis.