Hey everyone,
There is life!
After a beating the last few days, Zcash is actually looking up
We stayed out of the double top play and let the coin run its course, but the double bottom is showing some short-term plays for ZEC.
Volume is a little sketchy, but ZEC was able to resist the heavy bear volume and bounce on that double bottom / .5 fib level.
We are looking for a higher low to form, and place a long up to the next fib level. Price is looking to consolidate soon on the .382 level, and if that confirms, its a long to the next level for all of you day traders.
Swing traders, shoot for the $75 ish level to meet the last top before the fall.
One thing in particular to watch for is that a lower high isn't forming. We can judge the validity of this by making sure that bear volume DOES NOT INCREASE as price goes into consolidation. If that happens, all you bears out there can pull the trigger on a short.
Would you play this pattern? Why or why not?
-Block
There is life!
After a beating the last few days, Zcash is actually looking up
We stayed out of the double top play and let the coin run its course, but the double bottom is showing some short-term plays for ZEC.
Volume is a little sketchy, but ZEC was able to resist the heavy bear volume and bounce on that double bottom / .5 fib level.
We are looking for a higher low to form, and place a long up to the next fib level. Price is looking to consolidate soon on the .382 level, and if that confirms, its a long to the next level for all of you day traders.
Swing traders, shoot for the $75 ish level to meet the last top before the fall.
One thing in particular to watch for is that a lower high isn't forming. We can judge the validity of this by making sure that bear volume DOES NOT INCREASE as price goes into consolidation. If that happens, all you bears out there can pull the trigger on a short.
Would you play this pattern? Why or why not?
-Block
評論:
Sorry - bounce did play off! i'll keep you updated.
I will post an update later this week about where we are going from here.
If you want any coins in particular, just let me know!
-Block