Zcashusd
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%.
Zcash breaking out of bullish pennantThe daily MACD had already crossed on Nov. 6th, and now Zcash seems to confirm its upward push by breaking out of the pennant - notably from a cup/handle situation - on the daily graph. If it can break through its 455 resistance, Zcash looks really very strong and, with some patience, will afford some very healthy (hefty!?) profit targets at the .236 ($613,-)and .382 ($925,-) fib retracement levels.
I am totally unqualified to do Technical Analysis, and so this is not financial advice - just my opinion at the moment ;)
ZCash Buy OpportunityLet's look at 4h chart of ZCash. On the chart we can see that price is in a very important zone now. From the bottom the market is supported by the uptrend line and the support level. For confirmation that the market is going to move upward, we'll need a price breakout out the channel.The downtrend line is a barrier for possible upward movement, the direction of a breakout will show us further price movement. Profit targets should be near 0.049, 0.063, 0.083 and 0.1 resistance levels.