. There is a possibility of temporary retracement to suggested support line (0.0039). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. ZECBTC 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.
Monfex is at your service and today we overview ZEC/BTC.
Diamond reversal pattern.
This pattern also finds support from RSI, the indicator has a certain upward trend, which is a good sign for bulls, but most likely not soon.
The support zone ~ 0,004350-4300
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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.
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...
. ZCASH/BITCOIN is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue.
Price is in the support zone...
. ZCASH/BITCOIN is in a Range Bound and Beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 77.
We opened 9 Buy trade(s) @ 0.03571511 (day close price) based on 'Valley' at 05.14.2018 signaled by our "Daily Trading Opportunity".
Signal to enter...
ZCASH is showing signs that its major corrective pullback is over, showing a similiar pattern to ETH we can expect to see a new Impulsive wave forming.
I have marked on the chart my rough idea on where I expect price to go, use as a guide only. I will start accumulating small amounts today through to Sunday.
Looking at mid to long term for now, so prepair to sit...