Zcashshort
Crypto twitter overly bullish on Zcash i only see this at bestI have noticed Crypto twitter being overly bullish on ZEC. I have no idea for what reason because they see a 4h bullish rsi divergence? All this tells me we could definitely see a bounce but a reversal no way!
We broke a BIG high timeframe a week ago we have not yet tested that level i expect that level to hold as HARD resistance. as long we do not trade above that level you cannot be bullish longterm on zcash.
What i do see is a potential lower timeframe setup with an upside of 9% why? :
- For the people that like to use indicators you got your 4h rsi divergence
- Obvious 1h S/R level that has been respected nicely so far. Got to wait for that level to break again before thinking of longing this.
- That lower timeframe target i pointed out we never tested that level creating inefficiency in price so i do expect Zcash to trade into the level before moving back down.
- We also got the OTE Meme at our target which alines perfectly for more downside on Zcash on a longer timeframe.
ZEC-BTC Binance - bearish divergenceChart is self explanatory. ( I don't like ultra cluttered noob charts with every indicator )
On 4 hr chart we can see a higher high on price action but a lower high on RSI aka - bearish divergence
So you can sell your zcash (if you wish :) and buy back at 0.017428 around 6.5% profit.
Stop loss above 200MA.
Remember this is a swing trade so it may take some time and could get affected by BTC volatality.
If you have any questions ask in comments.
Happy Hunting.
Note- This is not a financial advice trade at your own risk.
Zcash uptrend 100%+ gainZcash was consolidating for a long time since 10th of February till 1 week ago. That would be more than 100 days consolidation.
Now, after longer consolidation and after regaining 50% in 30 mins time on the 14th of May its was more than clear that Zcash is trying to push up.
Made an uptrend from 0.02
Uptrended from 0.0292 touched 0.0456 mark and retraced, but stayed above 0.0282 level and continously pushing upper price level in order to breach 0.045 mark.
After three attempts fails to do it and retraces to 0.0382 (while achieving 0.044 0.045 0.046 prices) and retracing.
Makes an uptrend from 0.0382 while continously retesting that level 5 times (even with strong pierces) didn't managed to breach that level from the upper side.
in the first cycle was uptrending (in sats and usd) more than btc actually lost in value which shows extreme bullishness at this moment (Zcash was uptrending while entire market was between 5 and 20% minus) was like +10% +20%.
Having in mind 0.0382 level held pretty well (desipite numerious retest), my personal take is that Zcash could double or maybe even go to 0.1 target or even 0.015 in last instance (but honestly) i m not expecting reaching that value in one instance.
on 0.082 level we have resistance, but since we are in form of falling wedge, i thing it could actually pierce through 0.045 and 0.056 resistances going straight to 0.082 level which would be next resistance level and (by my opinion) safe exit price for all people who rebuy under 0.04 sats.
Targets :
0.046
0.056
0.082 (as most probable)
0.15 was ATH at zcash (comparing to existant 0.038 we could conclude that price of Zcash is pretty much underpiced.
I do expect sharp upward momentum heading staight to 0.082 sats.
-This is not financial advice, it was meant to be used only as speculative and solely subjective point of view
