Zcash entering wave 5Zcash has had a bullish race up to 325$ - which marked the end of wave 3.
In the following it has broken out of the ascending trend channel to the side, and the lowest price marked the wave 4.
Comparable to other coins the price didn´t rise fast after the turning point. Zcash is actually within a symmetrical triangle, with the lower limit consisting out of a swing trend line. This should not be broken to the bottom, otherwise the trend will be broken.
In my calculation the wave 5 begins when the price of Zcash breaks the upper limit of the triangle and should lead the price up to 412$, where we find a fib retracement at 61.8% (downtrend).
There are several resistances between this goal and the price of today. Each one could be the peak of wave 5 - but I think it shall go further.
The RSI is showing some weakness and if I´m right it should break the upper trend line as well.
Also MACD isn´t signalling a bullish trend at the moment. But in neutral zone everything can happen.
Stop:
If zcash falls out of the triangle to the bottom and falls depper than the last low at 267$!
Zcashusd
ZEC/USD | Time to accumulateThis spot looks interesting for buying. Falling wedge should give us some action. Breaking from the wedge doesn't mean a move up but we should pay attention to it. Current price looks like a bottom and it is a good time to start accumulating.
I bought 25% of my Zcash trading accocation here at $180. I will add 25% more it falls to $160 and another 50% on $148. If price will continue falling below 140 my stop-loss will be triggered and I will wait for another trading opportuinty.
I will sell 50% of ZEC at 245. Other 50% – after new estimation of trend.
Please remember: my trading style is agressive and percentage of buys is high. You should always ask yourself if you are capable of losing amount of money that you put into after stop-loss is triggered
ZECUSD 8h: Zcash 1.000 USD - possible Target after CorrectionMy last target was even topped. I saw ZEC at 650 USD (old Fibo 1.62).
In the end, we reached USD 730. A good performance.
What is the next development now? According to technical analysis,
we see two trend channels:
One that goes straight up and hits the new Fibo 1.62 at 1,000 USD.
And a second trend channel that is slightly flatter. It hits Fibo 1.62 in
April after another correction.
Currently, everything depends on BTC. I still expect a further
correction and we could expect a strong further increase
at ZEC after that.
Let's see what happens. Happy trading. :-)
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And don't forget ...
Make good trades, money is secondary.
Be patient, satisfied and happy.
Thx for following A N D thx for helping.
All the best
btcinvests · btcinvest · btcinvest.de :-)
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ZECUSD a cup and handle pattern is vissible with 50% to upside. ZECUSD price action is in the last stage of creating a cup and handle pattern which will iveitably shoot out to the upside of not less than 50% in the near future. A retrace of 50% Fib can be expected as there are two long term resistance levels present. With a sustained push and momentum behind, target of $500 is attained easily at 128% fib. If resistance pen is rejected then look to buy at a discounted of 30%.