Good Day,
Zcash has a lot of positive signs going for it.
- MACD had a decent rejection of the Bears
- RSI comes from a fairly stable flow around the 50, which indicates potential in the market for upward movement
- DMI is crossing on 12HR timeframe
- Healthy correction from 16th April high
- Steady upward movement
- Testing $267 resistance with persistence
- If we count the waves Elliot, we just started the second wave in a potential five-wave movement
Larger time frame
- Strong candle forming on daily
- Correlation with BTC has to be factored in for sudden downwards movement. Even dough the market dominance is shifting away from BTC (could indicate different market behavior for bigger altcoins). There is a bunch of other factors that can substantiate a potential different market movement for the future (early days do).
- New people to crypto, might find the Threshold for 1 BTC high, which will help the psychological adaption of the trusted ALTS with store of value, payment, anonymous options
- MACD crossing bullish
- Good volume
- Fibonacci levels are good
Historical High: very early days $1600 - last boom $800, so decent long-term potential.
Fundamentals of the coins are strong enough
Chasing the trade can be dangerous, and atm it is breaking, which is never a point to enter(only with exp and caution)
None the less I am in, levels to watch and stop/take profit on the chart.
Good luck to you all!!
Zcash has a lot of positive signs going for it.
- MACD had a decent rejection of the Bears
- RSI comes from a fairly stable flow around the 50, which indicates potential in the market for upward movement
- DMI is crossing on 12HR timeframe
- Healthy correction from 16th April high
- Steady upward movement
- Testing $267 resistance with persistence
- If we count the waves Elliot, we just started the second wave in a potential five-wave movement
Larger time frame
- Strong candle forming on daily
- Correlation with BTC has to be factored in for sudden downwards movement. Even dough the market dominance is shifting away from BTC (could indicate different market behavior for bigger altcoins). There is a bunch of other factors that can substantiate a potential different market movement for the future (early days do).
- New people to crypto, might find the Threshold for 1 BTC high, which will help the psychological adaption of the trusted ALTS with store of value, payment, anonymous options
- MACD crossing bullish
- Good volume
- Fibonacci levels are good
Historical High: very early days $1600 - last boom $800, so decent long-term potential.
Fundamentals of the coins are strong enough
Chasing the trade can be dangerous, and atm it is breaking, which is never a point to enter(only with exp and caution)
None the less I am in, levels to watch and stop/take profit on the chart.
Good luck to you all!!
Comment:
Comment:
This channel is slightly different from the one in my original post, both hold value in terms of targets and resistances.