Poor looking chart. ZEC has no momentum. Even though I do not trust chart patterns in crypto - the latest bullish engulfing candle is already becoming tweezers. Overall steady downwards movement. During the last bullish reaction to BTC/ ZEC failed to move during that period as well. We may get some small pops like we have seen many times before in ZEC but that is it. The last few attempts to hold a bottom have also failed for this coin every time and the indicators also show a downtrend in the higher charts. You be the judge but I do not get hopeful or excited every time a crypto stays in a price range for a week or two.
Note
And yes it does mean it can move up a little but then it will continue doing what is has for a long time now and move right back down. Good for range traders I suppose.Note
and yes I am also in a XBT short since 3900 and I am very confident based on the market movement and candle structures on the higher charts.
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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.