Beautiful LONG Opportunity Based on Support [QUICK UPDATES]Hey all, the Trading Guru is back with another entry on a new series called 'Quick Updates'.
Just found this support zone for ZEC that already got confirmed with a small bullish candle on the 5m, leading to a nice scalp opportunity. See the chart for information on stop loss, take profit, and entry positions.
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Zec
Zcash: $500 By ChristmasCurrent downtrend shows Zcash hitting $0 by EOY 2020
Such an occurrence is out of the question
Prepare for a breakout sooner than later as smart money seeks out alternative wealth storage vehicles in light of the Federal Reserve's plan, as revealed this morning, to initiate an unlimited asset purchase program
BTC Reversal Or Death!COINBASE:BTCUSD
BTC Scared the hell out of all of us last week but it looks like sunshine could be on the horizon.
Development of a rising triangle during recovery
4H volume looks like its dropping towards something large
1H volume looks like we have one more "Shoulder of an incomplete Inverse H/S pattern" dip until this larger 4H move
3 Consecutive higher Lows with RSI trending higher in tandem
A peak at the ZECUSD chart shows a quick move towards its 4H 50MA with a initial denial but still recovers higher then where we are now with the other alts and majors
Zcash could be an interesting leader during times like this as LTC and ETH have done in the past.
If BTC breaks the orange line and confirms a 4H + candle above the green, I'd say we are quickly returning to 8k in a hurry...
ZEC - Zcash - STRONG BUYZECUSD : STRONG BUY
Analysis Method: Fibonacci & Wave Theory
About Zcash: z.cash
Launched in 2016 by Zooko Wilcox-O’Hearn and based on the Zerocoin protocol, Zcash (ZEC) is a decentralized and open-source privacy-focused cryptocurrency that enables selective transparency of transactions. Zcash transactions can either be transparent or shielded through a zero-knowledge proof called zk-SNARKs. This allows the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Instead of publishing spend-authority and transaction values, the transaction metadata is encrypted and zk-SNARKs are used to prove that nobody is being dishonest. coinmarketcap.com
Monthly: High/Low
Daily: Fib-Time/Minor Wave 1 & 2
6 Hour: Minor Wave 1 & 2
-Waves %: Extended 3rd
Minor Wave 1: 151%
45 Minute Chart: Micro-Wave
Immediate Target Area: $53-$57
Timeframe: 6 Days
Target Area: $85-$110
TimeFrame: 60 Days
Will update.
-FMW
Z CashI closed my Ethereum Classic trade at $8.39 yesterday. I told you in last post to stay out below $8.40, currently sitting at $8.10
Now what do I have my eyes set on.
I'm going to be watching zcash play out in this wedge.
We could see it breakout and form a right shoulder for about 35% gain.
Now I am scouting for my entry.
Almost the same pattern that ethereum classic broke from.
ZEC / Zcash Bullish divergence and retest - pullback to On the ZEC daily, we’re seeing a bounce on support, although we’re in a downtrend, I expect a pullback to the EMA.
Impulse on the daily is flipflopping between yellow and red, and allows me to trade.
This means that the EMA and/or the MACD Histogram are about to turn up.
We also see some long wicks on the bottom, that seems to show that further going down is rejected.
RSI is crossing up from a totally oversold condition.
On the 4 hour chart, I have a bullish divergence and a retest of this low after that, and then it seems to turn up and going up. That lower retest was also diverging with prices on MACD-H and Elder Force Index.
The stoploss can be placed in the lower wicks we’ve seen before at 49,1. I figure if we after the retesting of the low again again will come down, we probably are going down. Especially with the current bearish background of BTC.
For that same reason, I will tighten the stoploss as soon as I see a new higher low forming on the 4H timeframe, because of these market conditions.
Entry: 51.x
Target: 57.5 to 60.70
Stoploss: 49,1
R/R ratio: 1:3,5 to 1:4,6
ZEC/BTC analyses Hello Traders,
In the long term chart, we can see that the price just broke the long term Resistance line, and starts to acumulate above the Resistance witch a good sign for the bulls.
On the daily chart we can see that this acumulation is Bullish Retangule, and the price just touche the support of the and the bulls shows up, and we have a buying pressure on this area, and we are forming a Hammer Candlestick pattern, witch is sign for trend reversal
On intraday timeframes we have this short term Resistance above 0.0060 sats
If the price breaks this resistance we have a lot of possibility to test the top of the retangule
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ZEC Double Bottom Playing Out Well In Daily RSI Quick update from previous post. Chart pattern is coming together nicely. Weekly RSI could potentially reverse off bottom of overbought territory while the Daily RSI makes its next impulse. 100 day MA just crossed 200 day MA with 50 day MA turning vertical way above the two. Small amount of Bullish Divergence printed in last three days, lower price but rising volume. On the weekly we are testing the 50 day MA as support. To me the chart is saying that we are fueling up for our next move UP. However, I could ways be wrong. Will update as trend progresses.
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HAVE A GREAT DAY. LIFE IS A GIFT.
Not Financial Advice.
ZEC - will we see bearish continuation? ZEC was a clean impulse higher with bearish divergence and decreasing volume in the fifth wave.
The next few days will be interesting. Especially when we lose $57!
The first area of interest will be $46-$50. Holding the $46-$50 area with bullish divergence means that we'll see another cycle high. But a move like that will surprise me.
ZEC Looking To Double Bottom In Oversold Territory On The Daily ZEC pulling back along with the rest of the market. It has golden crossed on the daily timeframe. Stochastic RSI is oversold. The weekly timeframe RSI is Overbought similar to BTC. ZEC currently attempting to find support on the 50 MA. Thinking we'll see the weekly RSI cool off resulting in the daily RSI turning south in the days ahead to make a double bottom formation. Price could retest the upper $40's potentially. I would suspect candle body to bottom around $55 but that is highly speculative. If you know anything about ZEC is this thing prints insane wicks all the time so watch out with your stop loss. At least consider that in your trading strategy this is a real easy one to get stopped out in rather frequently. Its worth noting that on January 14th or 15th ZEC saw what looks to be its highest amount of buy volume ever recorded. I am long term investor with bullish view overall. Think the charts are showing some bearish potential for the days ahead. Say what you will about Zcash but remember this one thing....
It was once listed for $2,200,000 each. Ridiculous as it may be it still is a fact. Calculate the risks you take.
Please Like & Comment ------> Lets Be Friends **even if we disagree**
HAVE A GREAT DAY. LIFE IS A GIFT.
Not Financial Advice.
ZEC Daily Chart Pinnacle Moment After wiping away substantial gains along with the rest of the market. ZEC is ready to decide trend direction on the daily. We recently had a Golden Cross which gave us our first impulse up. Following that move we have had about a 20% pullback from candle body high to low from last high. Stochastic RSI just made bullish cross in oversold conditions. However, Price may need to come down and touch the 50 day moving average first. If we can break above the $75 region I see our next major resistance at $100.
I am long term Zcash investor only swing trading 5% of my overall position. I see an opportunity in ZEC similar to the early days of BTC. You may agree but that is my opinion long term. There are only 8 million "shares" in circulation. It has never been through a block halving event meaning the supply has not yet seen a reduction. After the first BTC halving price went from around $10 to $1000. Zcash in my opinion has massive institutional potential.
Not Investment Advice.