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blakeren
Dec 8, 2017 11:51 AM

ZEC Buy Oppertunity Long

Zcash / DollarBitfinex

Description

ZCash is approaching it's ATH and looks set to break it. Currently we can see divergence on the ADL, which is also indicating that there is more buy support than there ever has been for ZCash. We can also see two large buy candles in the volume with not much price movement (apart from the first, which has a large wick), indicating some large accumulating buys. I'll be adding some position here, as well as more once the MACD crosses back up again, especially if it crosses above the line. We can also see that the majority of the price is playing inside the nice ascending channel, giving us some potential buy/sell areas in the future

Comment

Boom ZEC broke out really nicely. May get a bit of a pullback but as far as I see, TA wise, the next target is $500

Comment

Sorry $500 is the next resistance to break. Would love to see it turn into support

Comment

If we can hold support on $500 we could see a lot more upward movement

Comment

Looks like there is support at $665. Keep watching
Comments
without_worries
got in at $324 but now feels like it's dropping away, is this expected?
blakeren
@without_worries, Only natural, especially seeing as the whole market is taking a hit. Not all days will see price move up however I'm confident that the trend will remain bullish. Wouldn't worry about it too much
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