Wave 1 completed. Wave 2 cannot drop below $45 or chart is invalidated. Wave 3 targets below.
T1: $175
T2: $250
T3: $350
*In case this is an ABC, I added wave C targets. Wave C targets should act as short term resistances and I'm expecting price to break through these.*
1D RSI oversold
Technical analysis:
. Zcash/US Dollar is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 14.
. While the price downtrend in the daily chart is not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary...
sit down around the fire and let me tell you a story that many of you may not have heard. once upon a time, there was a group of people who wanted to launch a cryptocurrency called Zcash with a fucked up trusted setup, 2 MB block size, founders reward, unverifiable supply, and experimental technology using people's real, hard earned money. what could go wrong? ...
ZECBTC
Moving in falling wedge - reversal pattern. Yu can see biggest trading volume since January
ZCASH moves not like the whole crypto-market. If you look at chart ZECUSD you can see squeeze I think this is position liquidation. In my experience, after such a squeeze, an increase occurs.
Very healthy shakeout going on here. We’re in a bull market, I’m buying the blood. Scaling in between here and $68.
*This is not financial advice and I am not a financial advisor*
Conclusion for today’s Zcash Analysis: Price closing above ~69.26 implies resumption of a bullish price swing in Zcash.
Zcash analysis for today is presented using a 6 hour timeframe (log scale) bar chart. Over 5 months of price data is shown on the chart from February 2019 to current date.
The bullish move in Zcash from the February 06, 2019 low reached a price...
The chart will be updated after the break
if you have your market view, please share it in comments
Also, you can ask me questions...
Have a great day everyone!
ZEC was in an upward channel and broke out of this channel on the 4H.
A rising wedge then developed and ZEC broke under support and back into the triangle. In addition a bearish H & S formed.
We can also see bearish divergence on the RSI . (HH and LH)
Target set slightly less than height of the rising wedge formation and SL set above the channel.
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