ZEC/BTC: Generational Bottom
Titled this "Generational Bottom" because I do feel like we are close to the bottom here.
While we have dropped out of a support box (in red) I think that we can range below it for a little while, and then easily pop back into the red support box.
I think if we get momentum on ZEC and it breaks back into the red box of support, it could range there for a little while as well.
Something worth pointing out on ZEC would be the hash rate. Recently, the hash rate has gone parabolic, here is a link to look at the data: bitinfocharts.com/comparison/zcash-hashrate.html
The rising hash rate is bullish, as why I believe we are close to the bottom here on ZEC.
The purple line I drew would indicate what I stated earlier, a little range under this red support box, and eventually breaking back into it.
No longer posting links in trading view descriptions, but you can find my twitter in my trading view profile bio. I have a discord group which can be found on my twitter.
Disclaimer: I am not a financial advisor, and this should not be considered in any way finance advice. Never invest more than you can afford to lose. I am just a Dragon.
While we have dropped out of a support box (in red) I think that we can range below it for a little while, and then easily pop back into the red support box.
I think if we get momentum on ZEC and it breaks back into the red box of support, it could range there for a little while as well.
Something worth pointing out on ZEC would be the hash rate. Recently, the hash rate has gone parabolic, here is a link to look at the data: bitinfocharts.com/comparison/zcash-hashrate.html
The rising hash rate is bullish, as why I believe we are close to the bottom here on ZEC.
The purple line I drew would indicate what I stated earlier, a little range under this red support box, and eventually breaking back into it.
No longer posting links in trading view descriptions, but you can find my twitter in my trading view profile bio. I have a discord group which can be found on my twitter.
Disclaimer: I am not a financial advisor, and this should not be considered in any way finance advice. Never invest more than you can afford to lose. I am just a Dragon.
Disclaimer
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