ForecastCity
Long

There is a trading opportunity to buy in ZECBTC

BITTREX:ZECBTC   Zcash / Bitcoin
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.01490 would begin in Midterm.

Technical analysis:
The RSI support #1 at 46 is broken, so the probability of beginning of uptrend is decreased.
A peak is formed in daily chart at 0.01528 on 04/01/2019, so more losses minimum to Trend Hunter Buy Zone (0.01330 to 0.01250) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 48.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.0133000 to 0.0125000). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.0133000)
Ending of entry zone (0.0125000)

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.01490000
TP2= @ 0.01685000
TP3= @ 0.01970000
TP4= @ 0.02140000
TP5= @ 0.02335000
TP6= @ 0.02970000
TP7= @ 0.03485000
TP8= @ 0.04375000
TP9= @ 0.05645000
TP10= Free
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Comments

Good TA as always. thanks for sharing.
+1 Reply
@fxniki, You're welcome.
Reply
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