Zclassic to break out anytime

You have all seen charts around here telling you to wait for a breakout.

I'm updating this trade because I have been following zclassic and bitcoin private very closely, and now I am more than convinced that a breakout is imminent.
However, many factors are in play right now, and it wouldn't be very smart to buy immediately, because you can easily swing trade this and not lose BTC value, while BTC is going up.

Chart wise :
Everything is looking healthy, it's not correcting more so it means we hit a very solid support around 0.0062 sats. If you want to hold, this is a very good buy area.
I love my chart indicators (I have circled them), indicating that it's oversold, so for a short trade, you can buy now and resell when these indicators have reversed positions.

Fundamental analysis :
You all know by now that each ZCL will give you 1 Bitcoin Private. NXT got to 2 billion dollar market cap with an airdrop for ignis . Bitcoin Private is on another level. Bitcoin Private is something people would actually want unlike NXT and Ignis. Why ?

- Rhett Creyton is a very well known figure in the space
- ZK snark technology has been extremely popular in the space : ZenCash, ZCash, ZCoin...
- The team is being incredibly efficient and active : website / wallet to be released on january 8. I am also checking their github ( I am an engineer ), and they are working on a daily basis.

Fork is definitely happening. Now the question is, why is this not moving at all, and dropping a bit ? Whales are accumulating ZCL and pushing out weak hands. Fork date has not been set, so it has not been confirmed officialy.
Once fork date is announced, expect this to go to 500 easily, and if we want to factor NXT's market cap, a target of 1200 dollars for ZCL is not that far fetched.

Good luck with your trade

Note

Any breakout now, is a false breakout and a trap to get you to buy higher. As long as their is no tweet from Rhett or Bitcoin Private, the price will stay around that area. Buy at support only, so that you don't lose your money ( even though it won't matter in a month or two)

Note

Rest be assured, not a breakout. I am convinced it will drop back as I have seen this happen over and over. If you are in, hold ( or sell if you feel like it, I would sell at slight profit). Bitcoin is rallying up anyways, ZCL will drop if it doesn't rally tonight, and rallying without news is very unlikely.

Note

Broke out while I was at the airport. Probably getting ready for that wallet release on January 8th. Don't fomo in, wait for consolidation then buy

Note

We got this boys. No panic for those who didn't buy, we still got another opportunity coming. Just don't buy now. Congrats to those who bought the dip after I posted this and held.

Right now, we are seeing some crazy fomoing. You can buy, and maybe make money, but the risk is way higher now. If I were you, I would stay back, be patient, and observe. The fomoing will slow eventually, and sells will happen, this will be your opportunity to buy.

Note

Consolidating, we can wait a bit more before we do any action.

Note

We can attempt something, let's set a buy order around the 0.009 sat area. If history repeats itself, this value could be the lowest and could hit if there is a correction. We can gain a lot from that buy order, as it will return to the new support line around 0.01 sats

Note

This thing is going out of control. But we play it safe, and we won't buy. This breakout was due to the wallet being released on january 8th, which is tomorrow. Sell the news is a possibility. It doesn't matter, ZCL is going to 500-600 easily. You can either, play it safe like I do, and wait for consolidation, or buy and not care about fluctuations and hold till it reaches these high targets.

Note

Consolidating, you can get a good entry soon. Keep an eye on it

Note

Consolidated. It won't dump more. You can buy

Note

Small Head And Shoulders forming right no ZCL chart. I'd watch out personally. It can dip further.

Trade closed: target reached

I'm closing this trade, as I took my profits and left.

Zebre_Trader

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Zebre_Trader