Multiple reasons for this trade:
- Rising trendline since 0.021 bottom remains.
- Horizontal support at 0.042
- A 68 million market cap coin... there's a lot of room to grow here, while alternative cryptocurrency are hot right now
- Tight stop loss at 0.047 is possible (little loss if the trendline does not hold)
- Possible BTC correction:
Note
Update:Things get clearer when you look at ZECUSD. A consolidation, without the strength of Bitcoin.
Note
The daily candle have closed. First bullish one since the peak a month ago.
Everything looks primed
Note
cointelegraph.com/news/apple-accepts-zcash-as-legitimate-cryptocurrency-now-available-on-iosSpicing up the pump...
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ZEC flagging in the smaller timeframe.. Should be testing 0.07 by tomorrowNote
Healthy correction so far on the 1H chart.
Daily: ZECUSD is close, while BTC's strength relative to USD is holding ZECBTC a little.
Note
Another excellent daily candle close for ZECUSD
Note
ZECBTC testing resistance...however ZECUSD is already in a highway.
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Related publications
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.