ZEC has had one incredible run up to the T200 mark. However, as I stated in a previous video today: ZEC poised to be trapped within it's descending triangle from over this past year. Zcash is in a historic downtrend right now.
-Note the RSI in purple at the bottom of the screen -As I pull back to look at the daily ticker, you will notice that the strength index has progressively gotten more and more saturated throughout this hyper positive trend -Any RSI that saturated and just... straight-up -wettt- is going to finally get overstimulated enough to want to tap-out.
New traders: MAKE SURE you take the time every once in a while to pull back on a daily or even weekly ticker and ident your positive or negative overall trends for a token.
Hello my friend. Thanks for your analysis. According to the chart, we have to wait for a correction. What is the scope of this correction?
AtwahCrypto
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i think we are breaking out of this descending trend. and i will be a hard exponential ascending trend sooner than we think
FutureAmericanExpat
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@AtwahCrypto, Thanks so much for your comment. It means a lot to me to have people noticing and remarking on my charting! I however nonetheless believe, that it's going to be a long, hard, cold road to get to that break, my friend. If you want to walk it, that's on you. However I'm HODLing what I have (I am a XMR/ZEC ride-or-die m'fucka), and just continuing to chart and publish what I think will happen based on my experience.
ZEC will ofcourse explode up to wherever the bottom of that historic resistance is, however I believe we will see some stormy seas and lost traders during that rise; a lot of people suffering huge loses for not heeding the wind.