Zec
Zcash: #1 Privacy CoinWave 1 completed. Wave 2 cannot drop below $45 or chart is invalidated. Wave 3 targets below.
T1: $175
T2: $250
T3: $350
*In case this is an ABC, I added wave C targets. Wave C targets should act as short term resistances and I'm expecting price to break through these.*
1D RSI oversold
Zcash (ZECUSD) short.All description on the chart.
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There is a possibility for the beginning of an uptrend in ZECUSDTechnical analysis:
. Zcash/US Dollar 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 14.
. While the price downtrend in the daily chart is not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (43.30 to 49.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (49.00)
Ending of entry zone (43.30)
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 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= @ 56.50
TP2= @ 64.75
TP3= @ 73.80
TP4= @ 91.00
TP5= @ 106.70
TP6= @ 127.65
TP7= @ 157.05
TP8= @ 184.90
TP9= @ 220.60
TP10= @ 328.65
TP11= @ 375.70
TP12= @ 503.10
TP13= Free
There is a possibility for the beginning of an uptrend in ZECUSDTechnical analysis:
. Zcash/US Dollar 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 14.
. While the price downtrend in the daily chart is not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (43.30 to 49.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (49.00)
Ending of entry zone (43.30)
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 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= @ 56.50
TP2= @ 64.75
TP3= @ 73.80
TP4= @ 91.00
TP5= @ 106.70
TP6= @ 127.65
TP7= @ 157.05
TP8= @ 184.90
TP9= @ 220.60
TP10= @ 328.65
TP11= @ 375.70
TP12= @ 503.10
TP13= Free
ZEC in oversold territoryZEC versus BTC has been bleeding for several month now... I believe a correction upward is due.
Last time (in January 2018) we dipped very low and bounced hard, and I'm expecting a similar scenario to happen in august.
My stop-loss is below 0.005, but you are on your own here.
