ZECBTC trade ideas
[ZECBTC] Zcash on Coinbase [760%+ PP]Zcash (ZEC) is one of the altcoins in line to be listed on Coinbase. Getting listed on Coinbase can mean massive growth for any cryptocurrency, since Coinbase is the biggest Bitcoin buy/sell platform in the United States of America.
Zcash is one of the first privacy oriented altcoins and launched with massive hype a few years back. Needless to say, it went on a massive bull run last year. All gains were erased with the bear market and ZECBTC has now created a new all time low.
We are going to be looking at an early entry here, before breakout and before the consolidation is over. So please allow time for this trade to develop.
Let's start with the chart, we will look at both today, weekly and daily:
- We can spot the bear market easily by looking at this chart. The top light green horizontal line, represents the top price reached by ZECBTC. That is 0.1696 BTC back in June 2017. After that, we see the price declining all the way to September 2018, when the new all time low was hit (brown horizontal line at the bottom). You can see the hammer candlestick, a reversal signal.
- We have bullish divergence on the MACD.
- STOCH is oversold and RSI sitting on the lows. This means we have plenty of room available for growth and that selling has been exhausted.
- Increase in bull/green volume. More green volume is needed.
- Here is the daily time frame. The bullish divergence on the MACD is more pronounced here.
- You can see the same hammer candlestick marked with a yellow circle and a very good increase in volume.
- Both the RSI and MACD have been creating higher highs and higher lows.
- Our first resistance to break stands at 0.020-0.021, from here we can move up strong.
- This will be a very low risk, high reward trade. Let's get started.
Trade instructions for Zcash by Alan Masters
Buy in: 0.0184 - 0.0195
Next support: 0.0175
Targets for ZECBTC by Alan Masters:
(1) 0.0222
(2) 0.0261
(3) 0.0283
(4) 0.0324
Stop loss: Close weekly candle below 0.0160.
Capital allocation: <15%.
FIGHT TO WIN. PLAY TO WIN. TRADE TO WIN.
We fight and we play. We get to win another day.
Another time. A different game.
Set your intention correctly, make your decision before is too late.
When you compete, when you work, when you play, when you trade.
It is about the moment, the experience...
You always want to see positive results.
Think. It is work/game/play, it is all about life and experiences yet...
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Each time I fight... each time I play...
I am always giving my best.
Namaste.
ZEC BTCUsing the RSI and Fib over the last one month (short term). I recommend a buy, It is safer to enter into the market at this period.
The EMAs are below the price bar as there has been a downtrend since the 28th, yet are so close which means a retraction might be coming soon.
The RSI shows the price line at 46% which means there is still room for increment in price.
The Fib in accordance with the Major Resistance forms the .78% retracement line, where price retracted in the past.
Reading the Fib, price is not in a favorable position being 0% but recently hit 0% reaching all the way the Support, momentum has been on an increase since then on.
ZEC BTC (analyzed with Richimoku & Kumo Waves)Richimoku & Kumo Waves on ZEC / BTC
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ZEC Blast OffZEC at bottom of ascending channel, looking for a bounce from here and a break of the long term resistance. If ZEC breaks 19k sat, we'll drop to next support. If ZEC moves up and closes above 21k sat, we'll move up to 30k sat long term.
Sapling release goes live on October 28th, this is huge news as it would allow zk-snark transactions to be sent on mobile devices, whereas today, it takes a minimum of 4 gigs of RAM to do so.
tokentops.com
ZEC breakout
Looking at the current trend in price we noticed a double dip last night with very strong indicators through MACD, MFI, RSI as an ideal buying opportunity. ZEC had a short recovery while resuming the dip.
I entered at various points with buying opportunities - with another due today if it dips further.
Overall i feel like this is a great opportunity for short term recovery. On longer term charts there is also a strong potential for gains.
ZCash primed to complete right shoulder of potential invrted h&sZCash is one of my long holds so regardless of whether or not this inv h&s pattern breaks I will be holding. I'm pretty confident it will at least be testing the neckline soon and likely breaking upward. If it does break upward I have the price target posted here in green.