So lately Zcash has been going down a lot, cause it crossed all the fibonacci lines. But now we see that the bears are trying to push down below the support line of .030664, but it kind of failed.
At the support line we see small real bodies, which gives us the information that the bears are losing steam. But it doesn't tell us that the bulls are going to take over control. Another thing we see is that the small downtrend is broken.
Now you may think, well if nobody knows for sure who is going take over the control? Why do you even pick this trade? Well, you see that it is close to the uptrend. This means that the bulls are likely to take over control.
So how am I going to react on this? Well to go fully in it would be highly agressive, but I would invest like 50% in Zcash right now and wait for a confirmation. If the confirmation is bullish I would invest the other 50%.
Stop loss is either 0.030664 or a close below the uptrend.
The first target would be the resistance line of 0.034650 and my second target would be 0.037222
But keep in mind! This is NOT an investment advice, but an analyse . You can do whatever you want with this information, so trade at your own risks!
At the support line we see small real bodies, which gives us the information that the bears are losing steam. But it doesn't tell us that the bulls are going to take over control. Another thing we see is that the small downtrend is broken.
Now you may think, well if nobody knows for sure who is going take over the control? Why do you even pick this trade? Well, you see that it is close to the uptrend. This means that the bulls are likely to take over control.
So how am I going to react on this? Well to go fully in it would be highly agressive, but I would invest like 50% in Zcash right now and wait for a confirmation. If the confirmation is bullish I would invest the other 50%.
Stop loss is either 0.030664 or a close below the uptrend.
The first target would be the resistance line of 0.034650 and my second target would be 0.037222
But keep in mind! This is NOT an investment advice, but an analyse . You can do whatever you want with this information, so trade at your own risks!
Trade closed: stop reached