Hi, I'm starting to experience the things I learned about technical analysis with this trade, the weekly candle closed on Sunday shows indecision, however after breaking an important trend line, we also see a triangle that could be reversal if confirmed, so I enter on the pull back, stop at -30% below $ 70, target $ 231 within 3 months, R / R: 1/3 weekly updates...
I see a bullish gartley pattern and expect a pull back to 55.85 for Zerocash. If it breaks yellow resistance in a bullish way, it can continue to its grow.
Have a nice day,
Super keen for ZEC and its future here at BTFD
ZeroCash has been showing some very good signs of life as the BTC dominance rises, ZEC has been surviving well and making good gains for this very important crypto coin
it might not be in the top 10 yet but it still needs to be mined more and with support from the new ASIC's will ensure zerocash will be a top 10...
In this Bitcoin dominance level which is 43% on July 19, we would see not soon growing for this cool untraceable coin, which is now very undervalued. Anyway, strong support is 0.025 BTC, and two resistance targets are 0.046BTC and then 0.059BTC. Hold it and wait for uptrend. It is coming!
Zcash started as an alternative to Bitcoin; the Zerocoin protocol which was improved upon and launched as a Zerocash (ZCash) cryptocurrency in 2016.
-Backed by wall street: within direct access to the general public (now a financial investment product) and institutional investors.
-Technicals look incredible, sentiment is on the rise, positive catalysts...
Basically we have seen ZEC take a huge drop from its previous high around 0.170 btc all the way down to 0.017 (a 90% drop). It started to recover and everyone (including myself, see linked chart) hoped that the inverted head and shoulders was going to be its path to redemption. It started to rally with bitcoin's last push upward (mid December) but didn't make it...
Here at BTFD we are big fans of this essential coin Zcash
its got so much tech that businesses require that bitcoin does NOT have
for me its the simple replacement of the $/£/Euro, been mining this since Nov16 and selling a few on peaks and rebuy on the lows
we gotta HUGE ZEC peak coming up, check the TA, looks like December will be a big month, MACD and RSI...
ZECEUR has completed its painfull (for those who bought at 15000€ valuations) down trend.
Those who spend a lot of time with chart analyses know, that at Trendreversal the UP-rally follows the path of the previous Down-rally
So one must look to back to see future.
At the provided picture the blue arrows show price targets for the future.
1. ZEC pumping (higher high)
2. Above two support lines, and broken bear trend.
3, TOP 9 coin in terms of volume (24h) almost the same as monero
4. Attractive for miners
5. One of the big names that provide innovation to blockchain tech BTC, ETH, XMR, ZEC
This could be a great reversal or just some silly pattern. We are in a very deep correction from previous up waves.
What were you all thinking on this pair?
Thumbs up if ya' like it and comment with some feedback! :)