XZC-BTC ZCoin, the better privacy coin.
Updated
Here I'm going to do some analysis of Zcoin (XZC), where I think we’re going based on where we’ve come from. I’ll redo this video and publication in the future but you’re welcome to skim through and I’d love any feedback on these ideas.
I think Zcoin has a lot going for it, it has a strong privacy-based protocol and based on the price alone, I’d say it’s had a great couple of years and we’ve been establishing strong price floors on the way up so any downward momentum will be short-lived.
Like I said in the video, I’ll be adding more details to this analysis in the future, as this is an asset I’m particularly interested in going forward.
All the best, stay safe out there. This market is full of bears and sharks!
Details on Zcoin: coinmarketcap.com/currencies/zcoin/
Zcoin main website: zcoin.io/
Follow me on Twitter: twitter.com/Rotiwoki_woo
I think Zcoin has a lot going for it, it has a strong privacy-based protocol and based on the price alone, I’d say it’s had a great couple of years and we’ve been establishing strong price floors on the way up so any downward momentum will be short-lived.
Like I said in the video, I’ll be adding more details to this analysis in the future, as this is an asset I’m particularly interested in going forward.
All the best, stay safe out there. This market is full of bears and sharks!
Details on Zcoin: coinmarketcap.com/currencies/zcoin/
Zcoin main website: zcoin.io/
Follow me on Twitter: twitter.com/Rotiwoki_woo
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Rising wedge appears on the daily.
I expect a pullback to the near support of 0.006015
See more on rising wedges here:
stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:rising_wedge_reversal
Note
XZC-BTC Bittrex | Rising wedge and 200 MA acting as resistance, 50 MA as support 4H. Bearish divergence on 4H. Break of Ichimoku cloud bullish but cloud has flipped bearish previously. I'm a bit bearish for now.
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XZCBTC has certainly been in a downtrend for some time. It does not yet look like it's ready to change that downtrend, though recently we've formed a smaller time scale descending wedge pattern.
However if drawn in a similar way using the real bodies of the candles on the 4H timeframe, it appears that we've broken a long-term support line without much of a bounce. I would not be fighting this downtrend at the moment.
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