ZEC / USD: Ascending Triangles

KRAKEN:ZECUSD   Zcash / U.S. Dollar
132 1
On the ZEC 2h chart, there are 2 ascending triangles nested inside each other.

...Which is a good sign ( bullish market)

A broke out already occured on the first triangle.

A broke out should happen on the second triangle, in the next 1/2/3 days.

Buy at the break out up, as show on the graph.

Some people may want to see a Handle appear (event if it isn't a cup a handle), which should increase the bullish sentiment and therefore the bullish trend .

Good luck,
-trade on your own opinion first
Comment: Instead of waiting for the break-out of the upper wedge, you can also buy at the lowest rate you can find over the next 1-2 days, and enjoy more profit after a positive break-out.
Drawback is that the market can also break-out the lower wedge and go bearish.

This is slightly more risky, but more profit. However this is what I would recommend. In that case (it can always happen) you can still sell if you observe a clear break-out of the lower wedge, or wait until the market recovers, assuming you know the fundamentals, read the news and can understand the potential of Zcash over the long run.

Happy trading.
Trade active
Trade closed manually: Hi Friends, so I hope you are making good profits with Zec!
I just sold at 398 euros (446 USD) on Kraken.
Will buy back probably soon and let you know if I see anything interesting.
This is going up. Expect $400-500 soon
+2 Reply
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