ZCASH ($ZEC): Making that Cash With Zcash.
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Zcash has historically struggled to retain an uptrend, but with some recent bullish news on transactions and bringing privacy features to Cosmos, and with crypto showing strength all around, we are willing to bet on ZEC here. Let's take advantage of the short term uptrend and look for a long setup.
Resource: cointelegraph.com/news/zcash-fully-shielded-transactions-jump-70-to-new-record-in-april + decrypt.co/28002/two-of-the-worlds-biggest-blockchains-are-converging
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1. Fractal Trend has been showing an uptrend (Aqua bar color) on the 4 hour timeframe as ZEC tries to push up past some local resistance.
2. With this strategy, we are looking for long setups in a uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua line color) and/or bullish S/R levels plotted by Directional Bias (Aqua line color).
3. Right now we are looking for a long entry off of S1 with a target of R2. The logic here is that we have been consolidating under R1, so if we finally break R1 then R2 is a logical target.
4. We will exit the position if our stop loss is hit or if Fractal Trend changes color, otherwise we will be waiting for that S1 entry.
5. If we do go lower, we have also mapped out some notable levels to look for support at S2 and S3, although we don't have any specific plans for these levels yet.
Good luck friends!
Like, Comment & Follow to help the community grow 🎉🎉
---
Zcash has historically struggled to retain an uptrend, but with some recent bullish news on transactions and bringing privacy features to Cosmos, and with crypto showing strength all around, we are willing to bet on ZEC here. Let's take advantage of the short term uptrend and look for a long setup.
Resource: cointelegraph.com/news/zcash-fully-shielded-transactions-jump-70-to-new-record-in-april + decrypt.co/28002/two-of-the-worlds-biggest-blockchains-are-converging
---
1. Fractal Trend has been showing an uptrend (Aqua bar color) on the 4 hour timeframe as ZEC tries to push up past some local resistance.
2. With this strategy, we are looking for long setups in a uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua line color) and/or bullish S/R levels plotted by Directional Bias (Aqua line color).
3. Right now we are looking for a long entry off of S1 with a target of R2. The logic here is that we have been consolidating under R1, so if we finally break R1 then R2 is a logical target.
4. We will exit the position if our stop loss is hit or if Fractal Trend changes color, otherwise we will be waiting for that S1 entry.
5. If we do go lower, we have also mapped out some notable levels to look for support at S2 and S3, although we don't have any specific plans for these levels yet.
Good luck friends!
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