Zcash / BitcoinLong
Zcash bullish attempt
Updated
- In the past days we've seen that ZCash/BTC was traped in downtrend, with strong support around 0.046btc.
- In the last weeks this support has been tested many times without breaking.
- The downtrend of the last days broke up and the price bounced to 0.0604, and is currently correcting lower (bearish div).
- The daily kijun sen prevented further gains and i think we will see a correction before retest.
- If we're able to broke this level with good volume we will go directly to the next resistance at around 0.076btc.
- So we have a good trading opportunity to long Zcash if the 0.0615 resistance break up.
- We have to use a stop loss if the price break the main support at around 0.046btc ; If you trade thight you can prevent loss at 0.053.
Daily : RSI in bullish zone, macd flat but heading up
Last rule : Don't invest money you can't afford to lose.
Happy Trading !
- In the last weeks this support has been tested many times without breaking.
- The downtrend of the last days broke up and the price bounced to 0.0604, and is currently correcting lower (bearish div).
- The daily kijun sen prevented further gains and i think we will see a correction before retest.
- If we're able to broke this level with good volume we will go directly to the next resistance at around 0.076btc.
- So we have a good trading opportunity to long Zcash if the 0.0615 resistance break up.
- We have to use a stop loss if the price break the main support at around 0.046btc ; If you trade thight you can prevent loss at 0.053.
Daily : RSI in bullish zone, macd flat but heading up
Last rule : Don't invest money you can't afford to lose.
Happy Trading !
Trade active
i hpe you entered at 0.0615 like i said. enjoy your profits. i stay in (longer term)Trade closed: target reached
I will update this idea as soon as I can. Zec still looking bullish against USD and BTC. you can take a part of your profit; or wait for a new leg up.enjoy your profits
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