ZENBTC trade ideas
ZENBTC 4 HOUR TIME FRAME BULLISH CHANNELZENBTC 4 HOUR TIME FRAME BULLISH CHANNEL. Los Angeles 12:35PM.
Channel Strategy:
Buy and sell inside the channel trend lines. Buy on the 2nd bounce off support and sell at the 2nd resistance and repeat. If price action breaks the trend line use stop loss.
What to look for:
RSI remains above 50+.
Price action found support on Kijun Sen.
Price action is above the kumo.
Chikou Span remains above Kijun Sen.
Good momentum for *ZEN^There are News coming up today October 25, 5:00 PM GMT. The Secure nodes are on Beta (Testnet) at the moment, will we switch Secure nodes to mainnet soon? We will know more in 1 hour. The Developers are also working on a new Website and a new Wallet with some unique features. You can watch the Update Live here www.youtube.com #Zen
ZENCASH growing momentum but be carefulZencash has been getting a lot of hype right now. It seems a new market cycle has started, figuring it has done a complete retrace from a prior and has broken the 2.72 and is holding the retracement so far at the 1.72 level. The market will shake out impatience and fear especially at these levels but greed will prevail; likely this rally can go to the 4.764 if volume holds and it keeps coming in. There is no better market to play at the moment so position your trades according to liquidity because on a 1 hour timeframe, we are at a steep trend however it seems to be holding stable above the 1hr cloud as seen here.
Stochrsi on high timeframes as room to go up, market cap is currently 55 million which is nothing in comparison so definetly room to go up to target. Ideal entry would be as close to the 1hr cloud as possible, could break uptrend and fake the market out and get impatience out, buy as close to 0.0035 as possible as seen here
Target would be the 4.764 most likely, 0.009.
ZENBTC - switch to zen modeThe only red coin in my portfolio today is BTC. It looks like this are good times for ALT coins, people are probably selling BTCs for ALTs. I don't mind that :)
ZEN did tremendous job - more than 200% in 2 days. It's in triangle now and we can take opportunity after it breaks in any direction.
If it will break current resistance nicely and close with nice green candle above 0.0045, we could enter our trade on next candle. This one has currently still 3.5 hours to show us where it will stop. Support for this trade would be somewhere between our trend line and 0.0042.
But if it starts falling, our first support is at Support 1 (0.0034), but stronger one is at Support 2 (around 0.0066, also 61% Fib retracement level).
Be patient. Taken from Wikipedia, "Zen emphasizes rigorous self-control" ;)
ZEN - inside asc. TriangleAt the end of the asc. triangle, short drop because of the BTC dump after the fork .
- RSI showing upwards
- MACD may cross soon depending on the current candle
- Lot of sell pressure due to BTC FUD
- Except short drop due to BTC drop, we are inside Bollinger Band
If the volume flows back and BTC market remains stable, we might see a breakout here.
Wait till the triangle breaks before going in, early entry is very risky due to BTC market.