Woolhead

ZCASH short term analysis, profit potential

Long
BITTREX:ZECUSD   None
ZEC is in a trend between fibonacci lines. It will follow the trajectory of the green arrows, unless another btc crash happens. It's also possible that ZEC immediately goes to the 615 usd fibonacci line. However 560 usd is a strong resistance, so it's likely that it retests 500 first before going past it.
RSI supports upwards movement.


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Comments

Do you think Zcash, in the short-term, will fall back into the support zone to perform a double bottom such as it did on the 22nd and 24th of December?
Reply
Woolhead CoinBaron
@CoinBaron, I don't think so. A support zone wasn't established when it crashed on 22nd, so the market needed to test if the support would hold, which it did on 24th. So now that we know the support is there, I doubt the market would feel the need to test it again.
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