Zcash (ZEC) is one of the altcoins in line to be listed on Coinbase. Getting listed on Coinbase can mean massive growth for any cryptocurrency, since Coinbase is the biggest Bitcoin buy/sell platform in the United States of America.
Zcash is one of the first privacy oriented altcoins and launched with massive hype a few years back. Needless to say, it went on a massive bull run last year. All gains were erased with the bear market and ZECBTC has now created a new all time low.
We are going to be looking at an early entry here, before breakout and before the consolidation is over. So please allow time for this trade to develop.
Let's start with the chart, we will look at both today, weekly and daily:
- We can spot the bear market easily by looking at this chart. The top light green horizontal line, represents the top price reached by ZECBTC. That is 0.1696 BTC back in June 2017. After that, we see the price declining all the way to September 2018, when the new all time low was hit (brown horizontal line at the bottom). You can see the hammer candlestick, a reversal signal. - We have bullish divergence on the MACD. - STOCH is oversold and RSI sitting on the lows. This means we have plenty of room available for growth and that selling has been exhausted. - Increase in bull/green volume. More green volume is needed.
- Here is the daily time frame. The bullish divergence on the MACD is more pronounced here. - You can see the same hammer candlestick marked with a yellow circle and a very good increase in volume. - Both the RSI and MACD have been creating higher highs and higher lows. - Our first resistance to break stands at 0.020-0.021, from here we can move up strong. - This will be a very low risk, high reward trade. Let's get started.
Trade instructions for Zcash by Alan Masters
Buy in: 0.0184 - 0.0195
Next support: 0.0175
Targets for ZECBTC by Alan Masters:
(1) 0.0222 (2) 0.0261 (3) 0.0283 (4) 0.0324
Stop loss: Close weekly candle below 0.0160.
Capital allocation: <15%.
FIGHT TO WIN. PLAY TO WIN. TRADE TO WIN.
We fight and we play. We get to win another day.
Another time. A different game.
Set your intention correctly, make your decision before is too late.
When you compete, when you work, when you play, when you trade.
It is about the moment, the experience...
You always want to see positive results.
Think. It is work/game/play, it is all about life and experiences yet...
I want to succeed. I will succeed.
Each time I fight... each time I play...
I am always giving my best.
Namaste.
Trade active
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We are within buy in range. Feel free to buy in, rebuy and reload.
i like the fundamentals of this one, but i feel it would be unwise to spread myself anymore than i already am =/
AlanSantana
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@DomSquash, True. Sometimes it is good to just sit back, watch, and relax.
WBM_Team
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Do you have any other info?
WBM_Team
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Thank you for your analysis. It won't be for 100% in the tradable mode. This is what they write: "Unlike the ongoing process of adding Ethereum Classic, which is technically very similar to Ethereum, these assets will require additional exploratory work and we cannot guarantee they will be listed for trading. Furthermore, our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet. We may also only enable certain ways to interact with these assets through our site, such as supporting only deposits and withdrawals from transparent Zcash addresses. Finally, some of these assets may be offered in other jurisdictions prior to being listed in the US." blog.coinbase.com/coinbase-is-exploring-cardano-basic-attention-token-stellar-zcash-and-0x-9e44f0eb823f
What is relevant as news for us, it is its capacity to push the price up (work as a bullish signal). So I mention it because of that but the charts for ZECBTC are primed for a move up. It will follow the market. If the market goes green, then ZEC will be a good choice regardless of what happens with Coinbase. That's my opinion.