ZENBTC trade ideas
ZEN/BTC at Meaningful JunctureZEN has seen considerable movement ever since the Palm Beach Shill Report, but it's dropped precipitously since the Mt Goxening part 2. Predominantly, volume has been lacking for any significant movement as of lately. If ZEN can break upwards then it has one major pivot / inflection point before reaching its next line of resistance. With ledger support coming, its uptick in marketing and outreach, and its cheap node investment are all signs that I see a good 2018 for ZEN.
Recent News:
Reddit AMA: www.reddit.com
Crypto Invester Show Booth: twitter.com
Ledger Hardware Wallet Support Coming: mobile.twitter.com
ZEN ATM's announced for South America: www.reddit.com
Zencash VS Bitcoin Approaching Key ResistanceFollowing the previous idea on ZenCash cryptopost.com , the price has started to grow as expected after rejecting the btc 0.0033 support. The upside potential remains very large, however, to realize it, there is a major resistance that has to be broken first.
The resistance is at btc 0.00567, that is confirmed by two Fibonacci retracement levels. If ZenCash will manage to break above, the price could go as high as btc 0.01.
On a downside note, break and close below btc 0.0033 could send price lower, back to the next support at btc 0.0025, but it still should not invalidate bullish outlook.
Ascending Triangle on ZENBTCI'm seeing an ascending triangle (which is bullish) on ZENBTC on a 30m chart. Stochastic and MFI showing oversold conditions indicating a reversal. MACD will have a crossover if the next couple of candles close green, giving us further confirmation of upward movement. My entry is while the price is closer to the lower line of the triangle and exit will be closer to the upper line of the triangle. I want to be in the trade for a shorter period of time so I am not waiting for a breakout and rather exiting the trade just below the resistance, for a 10% gain.
I opened a long position at 0.00473000 and placed a sell order at 0.00520300 (10% gain).
Criticism welcomed!
And ZEN will speakZEN what can I say? Its chart speaks for itself, ZEN held up very well during the recent dip. A strong privacy platform and currency, people are starting to figure out it is ZEC without the 20% founders fee but with a sustainable treasury model for development and marketing and a masternode staking system to earn a % of the fees instead. Privacy crypto-currencies and platforms will play a bigger role going forward and ZEN ranks high in that crypto asset class.
Zencash VS Bitcoin Calling For ActionZencash formed the support at btc 0.0010 where it formed a double bottom back in October 2017. Almost immediate spike up followed reaching the high at btc 0.0052. However, after that ZEN/BTC consolidation continued and only recently it broke above the downtrend trendline and the 200 Moving Average.
Zencash bounced several times off the 200 MA and the once of the downtrend trendline that are obviously now acting as s strong support. All these facts are just calling for action as Zencash is looking very attractive in terms of a buying opportunity. The price could grow by 220% as strong resistance is seen at btc 0.01, confirmed by two Fibonacci retracement levels.