Z-Classic Megabull Waiting To Be ReleasedSuper bullish on Z-Classic right now. From a TA perspective, we are building a small ascending triangle inside a much larger one, the RSI is strong, price well above the kumo, chikou and tenkan have made bullish crosses.
From a non-TA perspective, holders of ZCL will get 1:1 allocation of Bitcoin Private during the upcoming fork. This will fuel a massive pump I believe, most likely followed by a huge dump after the snapshot is complete. We have seen similar things time and time again in BCH, BTG, NXT for example. I've been doing research on the Z-Classic team, product etc and they seem solid, as does Bitcoin Private.
Anyway, strap yourselves in a get ready for a crazy ride!
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Bitcoinprivate
$ZCL has big potentialInitial pump from announcement last night has settled and it began to form a head and shoulders. This indicates a downward drop off, which then followed. The drop off has now seemed to form a potential cup and handle which could break lead to a break out, especially with the official bitcoin private fork announcement coming Sunday.
ZClassic | Dead Coin Back to LIfe | Solid Mid-Term HoldToday marks a month since I called ZCL at 30k sats (currently 1000k sats)
Since my chart was deleted, I decided to copy/paste my rationale from the deleted chart.
I believe it gives decent insight on how to evaluate coins, and utilize market cycles. I also added Meta Comments to discuss conditions that have changed since my analysis.
I was a little off in my prediction; called 2000%, price went ~4000% up
That crazy price hike was due to the Bitcoin Private Fork, a coin that could potentially match the market cap of coins like Bitcoin Cash.
Meaning a potential 10-20x from current price.
However, this trade is inherently risky!
Coin has pumped a ton in a short amount of time. Keep in mind that if anything bad happens, we could take a pretty heavy fall.
And with the fork delayed to March, people are already a little testy.
Potential reward is huge though, so I will risk a little capital for it
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Trade Details
Small position at 990k, Orders at 880k, 760k, 655k
Targets: 1250k, 1600k, 2000k
Stop Loss: 540k - A lot less support under this zone. Could freefall at that point.
This is a mid-long hold. Coin should run up closer to March
We may see lower prices, but if alts party, then we could be near the bottom now
Super Guppy indicator (colorful waves, 2 groups of EMA averages) showing a buy signal. Slow EMA support coincides with 1.618 FIB line.
We want to come above the 1.618 FIB line and use as support. However, we are currently in a bull flag leading us below this line.
Look for breakout above purple line for bullish movement, or break below the green support (~875k) for travel down to bottom of bull flag (~760k)
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Original Analysis, with Meta Comments (12/22/17):
It appears that alt season is upon us.
Have you noticed that a lot of coins have recently pumped in value?
Have you noticed how mainstream crypto is becoming? All that new money pouring into bitcoin 1.21% , is trickling into alts.
(MetaComment: A lot of trickling has happened since this analysis. Still bullish on alts, but nowhere near as much . That was practically bottom of the market cycle. We seem to be somewhere in the middle now)
Zoom out on the charts of your favorite coins (1D to 1W charts).
See all that room for growth? See how early we are in some potentially massive pumps? Use these long term views to hold your coins against most dumps.
(MetaComment: While this is no longer true of all coins, there are still coins with this kind of potential. *Cough* ETC *Cough*)
"So many coins are out there! How do you even choose one?"
Personally, I like to choose ones that have the most potential upside shown in charts. Then, I like to research the fundamentals of the coin in order to make sure it'll be around in the future.
One coin that I found from this process is Zclassic.
Chart speaks for itself. There's over 2000% (That's a 20x on your investment) remaining to reach its old price.
Coin was left for dead. Thrown away by the dev team.
Which explains why the price has been plummeting since July.
What changed?
A mostly new dev team came in to revive the coin. The team is big too, including the likes of Rhett Creighton - a developer that has contributed to Bitcoin 1.21% Core code, and created WhaleCoin. In addition the team has announced that they will continue to expand their team, and will rebrand
Rebranding has been known to pump a coin's value as the event draws near.
(MetaComment: Ironically, Zclassic no longer fits the criteria described above, as it has gone beyond ATH. Therefore, I see Zclassic as inherently more risky than coins still below ATH. The potential high reward of a Bitcoin Cash market cap, however, gives this a decent risk to reward ratio.
ZCL/BTC Ascending TriangleAscending Triangle on the Zclassic chart; very bullish without a fork announcement in place.
1 ZCL = 1 ZCL + 1 BTCP
ZCL BTC 30 Minute Chart Analysis The correction for $ZCL continues, as the price hit a low of 1.14m satoshi today (11% drop in price), although it appears that many "bought the dip," as can be seen by the buying volume spike at the dip. The 200 SMA acted as a support during this drop, and I expect there to be further consolidation pending further news on the $BTCP fork. RSI is around 35, indicating that we are in oversold territory. As of now, the demand on Bittrex is exceeding supply, and we will see how this will continue to play out. If there is positive news on the development of the $BTCP protocol, we will see a large spike in price. Only time will tell!
Stand clear - Future is Nexus Earth - The whole package in oneNexus Earth has the technology and potential to be the coin for many. Nexus is decentralizing the decentralization and launching tech into space to support the decentralization. With advanced development on "Smart Contracts", privacy, Quantum Resistance and real decentralization Nexus will hold together in one coin all that is needed in this space.
"Nexus seeks to Free humankind from centralized systems. Merely being decentralized is not enough. We must decentralize the decentralization. Using software and hardware, Nexus seeks to build the foundation for the most decentralized system to ever be developed: Nexus Earth. This network will empower everyone from the first world to the third world. Not everyone has money, but everyone has time."
Mining Channels: Each channel reinforces each other to prevent 51% attacks on one channel forcing attacker across multiple channels
Hashing: SK-1024, SK-576, SK-512, and SK-256 used in all hashing. Pure SHA3 using Skein and Keccak.
SK-1024: Using Skein-1024 and Keccak-1600 for Hash PoW to produce a 1024 bit output hash used for the block hash providing the highest security.
Prime: Searching for Dense Prime Clusters as PRIME PoW, finding these clusters of numbers that are ~308 digits to verify prime density in large numbers.
Keys: 571 Bit Private Keys compared to 256 bit in other currencies. Using NID_sect571r1 as the algorithm.
Difficulty: Calculated with time overlaps and true % over bounds, using weighted block average over past 5 blocks.
LLP: Lower Level Protocol as a template protocol to allow any protocol to be created with ease without need for repeated network programming.
Core LLP: Protocol responsible for time keeping as an advancement to NTP, keeping clocks on the network synchronized within a few seconds of one another. Maximum clock drift for Nexus is 10 seconds.
Mining LLP: Dedicated Mining Protocol outside of JSON-RPC Server to allow the greatest performance for mining. Protocol can handle 5k + connections allowing solo mining of any magnitude.
No Reward Halving: Rewards are calculated along an exponential decay curve to slowly reduce the value of each block rather than shock both miners and the market with block reward halving which acts as a rudimentary decay model.
Released Reserves: Decayed Amounts are deposited into the Reserves for each channel, preventing a miner from being able to mint more than the projected amount while difficulty is compensating to their amount of computing power.
Fractional Rewards: When reserves are below given thresholds, the mining reward is then based off of the time it took to create a block preventing a miner from ever being able to deplete the reserves.
Decentralized Checkpoints: All blocks must root from the most recent checkpoint which is declared by fitting into a timespan. This allows checkpoints to be automatically created every hour, without the need for any master node or checkpoint broadcast.
Trust Keys: Interest rate is increased the more a node services the main chain giving incentive to active stakers. This also increases the cost of an attack for in order to attack with a trust key it requires time to get it to the same threshold.
Nexus Proof of Stake: Proof of Stake system based on the Peercoin protocol heavily recoded from the ground up utilizing energy efficiency threshold, trust keys, and logarithmic weights to create the fairest and most stable Proof of Stake system to date.
Developer Commission: Built into the protocol levels, gives a small decayed amount to developer addresses every block over 10 years amounting to a total of ~2.5% after 10 years, and starting at ~1.5% as a way to bring the benefits of pre-mines, without the risk to investors. This means developer account has no control over the currency as it will never be of a high enough %, but it allows funds to be distributed to development removing need for corruptible foundations such as the Bitcoin Foundation.
Zclassic & Bitcoin Private huge potentialBitcoin Private will be a combination of Bitcoin and ZClassic fork. It will be airdropped to Bitcoin holders (1:1) and ZClassic holders (1:1). Like other Bitcoin forks, it's price could rise significantly without harming Bitcoin itself and there are several reasons too:
1) It's the first privacy Bitcoin fork
2) It has dedicated team (with 2 successful forks already)
3) It has strong media support
4) It decentralizes mining like Bitcoin Gold
1) Never risk more than 2% of your account.
2) Try to be emotionless by applying your strategy to the pip.
3) Invest to yourself and then your capital. Try to educate yourself along with the signals and enhance your risk intelligence and your perception on how Markets work.
4) You do not have to be extremely precise to be highly profitable as long as you take the set-ups with big R/R.
ZCLBTC Hourly Chart AnalysisZCL had an amazing run since the announcement of the $BTCP (BitcoinPrivate) hard fork (for further details on the fork please see btcprivate.org), shooting the price up from $2 mid-December to a high of ~$245 on 1/7. As can be seen, there was a healthy correction today, with the ZCL/BTC price decreasing 28% to hit a support at around 1m satoshis. In addition, there seems to be a strong resistance at around 1.35m satoshis. We will see how this resistance holds as further news on the fork is released (whitepaper, fork date, exchange support). I expect there to be further consolidation within the 1.28m - 1.35m satoshi channel until then.
ZCL Still trending upwards Ppl are HODLing because they want the BCPT fork. I think this will continue to rise, and once a fork date is set, it will have a healthy jump. And rightfully so IMO.
ZCL Idea, before HardForkZCL Hardfork is coming, price is rollercoastering between 110 and 80 dollars.
This month the Hardfork is happening, if bittrex accept the fork, price can go 300%
(fork = 1 zcl 1 btcp 1:1)
Don't invest in my chart, please do your own research, im a novice trader and this is my first chart.