Trade ideas
[ ZEC ] ZCash - Buy Zone In RangeZCash has been on the extended downtrend but with news of new partnerships on the horizon it looks like ZEC may have
a sharp move back to the upside.
Estimates Bounce Zone 0.004745 - 0.004732
News Item Search Term : these-brothers-think-save-zcash
ZEC in oversold territoryZEC versus BTC has been bleeding for several month now... I believe a correction upward is due.
Last time (in January 2018) we dipped very low and bounced hard, and I'm expecting a similar scenario to happen in august.
My stop-loss is below 0.005, but you are on your own here.
Zcash has an inflation bug, and nobody's talking about it.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? there was more hype over ZEC than jeffrey epstein on the way to his island. people said before launch, what was acceptably sane talk, things like "zcash is the bitcoin killer" and "zooko is a genius."
the zcash team decided on a "slow" reward emission at the beginning to try to put all the miners having a boner into a cold shower. so the block rewards were extremely small. poloniex listed zcash first. miners started posted absofuckinlutely ridiculous asks, but because scarcity + hype = stupid, there was a guy who paid for ZEC at a rate of 5000 BTC per ZEC when it got listed on polo...i saw it happen with my own eyes...im sure he thought, wow what a steal, it's the next bitcoin. if he needed anymore confirmation, at one point at a meetup zooko said (i kid you not) that he "doesn't actually specifically know how zero knowledge proofs work". But how can i blame the guy? I mean, it's a free country amirite.
i can't think of a more fucked up piece of shit than zcash. nobody even uses the privacy features. i see lots of people blaming the dump on the founders reward. perhaps that contributes to it. but many people dont know that the supply is unauditable. if someone figured out a way to print billions of ZEC, there's literally no way to tell. can you find a better explanation for this god forsaken chart than that? and i hear that they are creating a new blockchain, a zcash 2.0!
for giggles: www.reddit.com
ZEC 618 pullback 6:1 RR tight stop Continuation of downward channel breakout with another possible entry with better risk reward setup than previous channel break entry.
Z-Cash - Huge Gains Incoming? BTC Dependant Of Course! Another huge divergence in the alt market. Some of these moves if BTC dominance comes down are huge. This again shows the power of BTC but when the switch flips. It could be very profitable.
ZEC downward channel breakout, retest, and pumpAlt Season went through another temporary bear cycle while bitcoin danced around 9-10k for the last month.
Now that bitcoin is building an extended triangle staying within 10500 - 12500 we will see some moves on quality Alt Coins.
Reward: Stoploss and Takeprofit are set with 2x reward.
Duration: Expected trade duration 2-5 days
Sentiment: Bearish with new lows on Weekly
