I have noticed Crypto twitter being overly bullish on ZEC. I have no idea for what reason because they see a 4h bullish rsi divergence? All this tells me we could definitely see a bounce but a reversal no way!
We broke a BIG high timeframe a week ago we have not yet tested that level i expect that level to hold as HARD resistance. as long we do not trade above...
Chart is self explanatory. ( I don't like ultra cluttered noob charts with every indicator )
On 4 hr chart we can see a higher high on price action but a lower high on RSI aka - bearish divergence
So you can sell your zcash (if you wish :) and buy back at 0.017428 around 6.5% profit.
Stop loss above 200MA.
Remember this is a swing trade so it may take some time...
Zcash was consolidating for a long time since 10th of February till 1 week ago. That would be more than 100 days consolidation.
Now, after longer consolidation and after regaining 50% in 30 mins time on the 14th of May its was more than clear that Zcash is trying to push up.
Made an uptrend from 0.02
Uptrended from 0.0292 touched 0.0456 mark and retraced, but...