SHORT BTCDOMAs I stated in my weekly market wrap up on Sunday it looks like there was an unnatural pump that was used to trap people in their long positions. If you watched the wrap up you would have anticipated this and gone short altusd pairs and profited BIGGLY as I did with ETCUSD short. Now however it looks like it might be time for ALTBTC pairs to get a little hop in their step. I dont usually go long on margin so Im going to let my physical long positions play themselves out and wait for another hedging opportunity should it present itself. That being said there is a really good but scary opportunity that is still a viable option for MATICBTC pair. Im still in it and will be adjusting my stop loss down a little further thus taking on more risk but I feel like this is one that is set for a massive bounce from the panic dump as indicated in the video below posted this morning. Looks like ZECUSD was a perfect trade as well. I made alot of money today so Im hoping alot of you guys did today as well. TNTBTC is however following the market mapping I plotted almost down to the tee. Everything is looking great!!! Now Im just going to wait for MATICBTC to play out and then Ill take a break so my ego doesnt get the better of me.
God Speed Gents,
Mr. Lucifer.
ZECUSD
ZEC bullish run has much more leftMulti-timeframe showing a clear bull run with key resistance level broken 2 days ago. Despite, the healthy pullback from what likely would have created an over-extended run. The correction not only brought back experience/successful traders/investors. It is helping provide the necessary strength in what very likely will be strong support in the near and/or distant future. Bulls continue the buying spree and who can stop them. The longer timeframes printing the infamous "bull-flag" that is widely used within the crypto communities. This, undoubtedly, will continue to bring new bulls. Despite, the fact resistance broke and ZEC does have a clear path to its next level(s). Baring, of course, any volatility and/or sudden bull rush in BTC. The tight range-bound BTC has been at; does help BINANCE:ZECBTC amplify the case for the title (of "much more left) of this analysis.
$ZECUSDT / $ZECUSD BuyMost Alts are still in bearish trends seeking their all time lows (or even something below that) to potentially bounce from. Thanks to the Flourish Crypto bot I was tipped off (and automatically entered into a long position) about one Alt which has already found a strong support from its previous all time low and is now going back up. That coin is ZCash BITFINEX:ZECUSD . Privacy will always be a sought after utility in the cryptoverse. The previous high was +2000% from the current area and we haven't seen these prices since early 2017. Mining ZCash in early 2017 was how I got into crypto, man those were the days.
Have a good weekend.
As always, join me in my low-key, no-spam telegram channel at t.me or head over to join the waitlist for my magnum opus, the Flourish Crypto Bot at t.me which has been live trading my own money as well as other investors since 2017. Historical performance data available upon request.
ZEC - Huge Volume Coming In, Big Move Imminent One name I noticed that was new in the top 10 alt performers for volume was ZEC. I think this may be indicative of a possible move upward here in the near future. If ZEC can break overhead resistance at .0041, there is very little resistance in its way upward which could mean big gains. The daily MACD is showing a bullish cross over the signal line and there's good bullish divergence. With this uptick in volume, I think this is what ZEC needs to break overhead resistance and start a strong bull run. I'll be buying the breakout.
Zcash almost ready to flyZECUSD Fibonacci Clusters , and EWT wave Count.
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Don't miss the great buy opportunity in ZECUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (28.13). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. ZECUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 33.36
TP2= @ 39.33
TP3= @ 43.65
SL= Break below S2
Don't miss the great buy opportunity in ZECUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (28.13). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. ZECUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 33.36
TP2= @ 39.33
TP3= @ 43.65
SL= Break below S2
Zcash Price Analysis: Bullish OpportunityZcash has slipped to its lowest trading level since March 2019, following the recent decline in the broader cryptocurrency market which was sparked by bearish news coming from China’s central bank.
The ZEC/USD pair has fallen by over 30 percent since the start of November and 75 percent lower from its 2019 trading high.
Technical analysis suggests that the coin still has a high probability of staging a bullish reversal while trading above the important $17.00 level.
The four-hour time frame shows that an inverted head and shoulders pattern could start to form if buyers can stage a rally back toward the $40.00 level.
A price floor may have been established around $25 earlier this week, which is further complemented by a bullish reversal candle on the daily time frame.
The daily time frame also shows that large amount of bullish MACD price divergence appeared during the summer decline. The price divergence extends towards the $80.00 level.
Technical indicators are showing that a bullish reversal may be on the horizon, with the Relative Strength Index on the daily time frame reaching its most oversold level on record.
According to the latest sentiment data from TheTIE.io, the short-term sentiment towards Zcash is neutral at 42.00 %, while the overall long-term sentiment towards the cryptocurrency is neutral at 46.00%.
ZEC/USD by TradingView
Upside Potential
The four-hour time frame shows that key technical resistance is located at the $35.00 and $40.00 levels. Buyers ideally need to rally price above them to form a large reversal pattern.
Key technical resistance over the medium-term is located at the $55.00 and $80.00 levels.
Downside Potential
T he four-hour time frame is showing that the ZEC/USD pair has strong medium-term technical support around the $25.00 and $20.00 levels.
Critical long-term technical support for the ZEC/USD pair is located at the $17.00 level.
Summary
Zcash has suffered a heavy decline this week, further adding to the recent losses the cryptocurrency incurred over the summer.
The ZEC/USD pair now needs to recover towards the $40.00 level in order to form a large reversal pattern.