Thoughts
- ZEC is currently in the global 0.236 fib and hovering the local 0.236 fib. This forms a good support zone
- The 4HR trend line and 200EMA were rejected earlier this year
- A retest of the 200EMA, 4HR trendine and the local 0.382 Fib is a possibility. Coincidentally those points should meet by the 6 March 2018
- I expect a push to 0.05BTC but a minor support is available at 0.03BTC. At current prices that stop loss is around 20%.
- If it breaks out, the 0.631Fib will be tested (0.07BTC)
- ZEC is currently in the global 0.236 fib and hovering the local 0.236 fib. This forms a good support zone
- The 4HR trend line and 200EMA were rejected earlier this year
- A retest of the 200EMA, 4HR trendine and the local 0.382 Fib is a possibility. Coincidentally those points should meet by the 6 March 2018
- I expect a push to 0.05BTC but a minor support is available at 0.03BTC. At current prices that stop loss is around 20%.
- If it breaks out, the 0.631Fib will be tested (0.07BTC)
- Broken below the 0.236 Fib and daily has closed below support zone.
- Next point of interest is the 0.031. If we close below this we could go down further (New local low) otherwise if we bounce upwards (higher low) we could see a test of the 4HR trend line
- If we break back up into the support zone we should re-evaluate