ZECBTC trade ideas
ZEC/BTCZEC has broken the pivotal horizotal resistance and 200MA then retested perfectly on the daily.
On the 4hr, we see the clear hidden bullish divergence as indicated in the chart in the comment Section.
With the overall bullishness of altcoins across the board, I take a long here.
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ZEC is looking bullishBounced off from a rising trend, with double bottom and broke the neck line and also broke above a short term previously broken rising trend. It is targeting 0.0054 but is currently struggling with the 200 day sma and a sell zone between 0.0051 and 0.0052. Buy dips around 0.0048 with stop at 0.00465.
Don't miss the great buy opportunity in ZECBTCTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.00482). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. 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.
. The RSI is at 75.
Take Profits:
TP1= @ 0.00510
TP2= @ 0.00576
TP3= @ 0.00677
SL= Break below S2
Don't miss the great buy opportunity in ZECBTCTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.00482). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. 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.
. The RSI is at 75.
Take Profits:
TP1= @ 0.00510
TP2= @ 0.00576
TP3= @ 0.00677
SL= Break below S2
ZEC/BTCBitcoins halving has finally occurred. I expect BTC to calm down for the upcoming days and altcoins may finally rise again in price. Most altcoins have been heavily dumping and broken most major supports. ZEC, which is one of few which still hold the pivotal support as you see in the chart, is my first pick for the upcoming altcoins bounce. Besides the potential, we also have a clear stoploss around 450K sats.
In the 4h timeframe that I post below the comment section, the price has broken the descending line and then retested it perfectly.
Note: If you like the content and the setup, please give me a follow not to miss out on many altcoins charts to come.
My current scenarioThe price could build the XABCD structure (as on chart), which will be bullish. There is still space to go deeper (based on the indicators on chart).
But there is also a hidden bullish divergence between point B and current price, so I’ll be watching if the price will go deeper, or will change a direction.
There is not any financial advice, just what I see on the chart.
It's Tight!!!! (ZEC)Support & Resistance all playing a major role on the weekly pair to btc.
Monthly Squeezing hard.
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