Falling Wedge Could Signal The Return Of The Great Z-Cash BullI'm long on ZEC. Long term falling wedge and oversold Stoch are bullish indicators. Waiting for a reversal in the RSI with volume. If and when ZEC breaks the downwards trendline expect fireworks of the highest order.
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ZECBTC
ZECBTC: Falling Wedge Breakout ApproachingBollinger bands are squeezed tight indicating a big move in the making. ZECUSD is already moving up quite a lot right now, so that is a good sign this falling wedge on ZECBTC will break up.
The next resistance levels for this move here will be 0.083, 0.116 and finally 0.169. If that last level can break we should go quite parabolic to 0.256 at the 161.8 fib.
At current prices the 0.256 ZEC would equal over $2500 USD, which I don't see as being very likely! If we get to 0.256 ZEC, BTC would have at least halved in value from 10k crash; giving ZEC a value of $1250 or less roughly.
ZEC looking bullishStoch RSI is heading upwards with a crossover that indicates bullish moves. MACD also looks like it is going to continue its bullsih trend for a bit longer. Momentum is currently neutral with room to move upwards. The coin is practically bottomed out at this point, just barely hovering over long term support. There is room for ZEC to moon and hit resistance (already decent gains), and if that resistance is broken we can see some huge returns. There has also been a lot of talk about ZEC recently - hype can carry this coin far!
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.
Overcoming Resistance? A ZCash Structural Wave 3?Following the explosive failure we saw at the end of September, which formed a bearish wick, Zcash has been in consolidation mode. Currently, massive resistance at the major fibo resistance and the classic fibo resistance stand in the way of prices heading higher than $297. Data from this pair shows us that price likes to return to the fibo resistance level - in this case, $357. This means we could see the massive resistance taken out, the formation of a higher high, followed by a new structural wave. A break of the all time high at $455 give us a BIG breakout buy signal for a MIN TP of $525 and a MAX TP of $613.
Alternatively, we may breach the uptrend line and trade near the major classic fibo support at $190. A break of the white trend line could bring prices as low as $150 and $125.
Our strategy should also take into account the ZECBTC chart. Note that we are currently in a descending channel in that pair, and the formation of new highs in the USD chart might need to be accompanied by a break of that descending channel.
As always, I'll be updating this thread with long and short ideas at smaller time frames.
Cheers and GLWT!
-Erik
ZEC double Cup & Handle potentialIf cup A (Smaller cup) reaches it's handle low (Indicated by the <- arrow) there is your indicator for a buy.
While drawing this I couldn't help but notice the larger cap forming over the monthly, If ZEC follows the downward projection I drew ($210 US line) I'd buy there, and set a sell for below $350US.
I see a little bit of a long term potential IF that second cup & handle forms, however that's ambitious.
I offer more detailed FA & TA support in my discord channel discord.gg
ZEC XBT on KRAKENZEC hit the resistance once again on BTC going ATH and is dropping short-term back to sub 0.05 levels, although after Bitcoin Gold fork I expect holders of that shitcoin to drop it for ZEC, the same as BCH. After that I expect ZEC going back to the mean 0.06 up to 0.07 and continuing in positive direction against BTC in the long term.
Zec How to TradePrice bounced from the level $456 and start downward movement. Now we have a situation which can't give clear direction for possible trades. I think the best way is to wait for the moment, when price breaks the trend line and open long trades or breaks the support level and open short trades.