Zcash Trading Idea

The market bounced from 165.00 support level and we can expect for further upward movement. At the same time the reversal zone seems more logical place for possible bouncing. This zone is formed by the uptrend line and 140.00 support leve and it's much stronger than 165.00 support level only. That's why we should not be surprised if the market drops to this zone and we see price reversal here. If so, we'll get trading opportunity. Long trades will be opened based on a confirmed reversal signal with stop orders below the local swing low and the uptrend line. Also, for confirmation the up trend, we'll need price breakout above 230.00 level, it's the previous local swing high. If the market can pass this level, we'll be able to add some volume to opened long positions. Profit target for long trades should be near 300.00 resistance level. Also it will be possible to keep some volume for long term trading.