Hi dear patrons, hope you are well and welcome to the new update on Zcash.
On the long-term monthly time period chart, the price action of the ZEC has completed the final leg of the bullish Shark pattern and entered in the potential reversal zone. The price action cannot enter the negative zone therefore it is not possible that the price action may move more down up to 1.13 Fibonacci retracement level. The priceline of ZEC has found firm support at $20, therefore it can be considered as a maximum extent of potential reversal zone area. The monthly EMAs 10 and 21 are likely to form bull cross soon, it will be a very powerful bullish signal.
Buying and sell ranges:
The buying and sell targets as per the Fibonacci sequence of the Shark pattern should be:
Potential reversal or buying zone: $75.20 to $20
Fibonacci projection or sell zone: $216.42 to $475.12
Stop loss:
The maximum extent of the potential reversal zone $20 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of 2250%, and the loss possibility is 74%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
On the long-term monthly time period chart, the price action of the ZEC has completed the final leg of the bullish Shark pattern and entered in the potential reversal zone. The price action cannot enter the negative zone therefore it is not possible that the price action may move more down up to 1.13 Fibonacci retracement level. The priceline of ZEC has found firm support at $20, therefore it can be considered as a maximum extent of potential reversal zone area. The monthly EMAs 10 and 21 are likely to form bull cross soon, it will be a very powerful bullish signal.
Buying and sell ranges:
The buying and sell targets as per the Fibonacci sequence of the Shark pattern should be:
Potential reversal or buying zone: $75.20 to $20
Fibonacci projection or sell zone: $216.42 to $475.12
Stop loss:
The maximum extent of the potential reversal zone $20 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of 2250%, and the loss possibility is 74%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.