ZEC fun already over, at least for now?

ZEC got pumped yesterday, probably because it's a booming company with great turnover and massive revenue :) (sarcasm guys :). Just a joke, don't get offended please :). Anyway, price went up pretty much, even when Bitcoin made a small drop it went higher. But it seems the fun is over for now at least. Think we can expect a drop towards the 310/340, can't give a more exact target because i can't judge how strong it still is. Seems it dropped out of a rising wedge , and testing the resistance now with low volume . Now normally this would be an easy trade, but liquidity is extremely low with Alts like this, it can get pumped very easily. I have shorted it at 365 with a stop around 378 and a target around 330. My position size is small on this one, actually every alt coin because the risks are always very high.

評論: I am lowering my stop now towards my entry level
評論: Stop at entry level now, looking very good now. If we drop in this pace, maybe 310 is even possible. I will close my position around 335,325/315, so in 3 portions. it's hanging on a small support now, Bitcoin is dropping also on a support now but will probably make another small drop, that could take us to our targets

評論: Seems like a small bear flag in the making. Taking a small profit here is never a bad idea!

評論: Pump and dump, think it's time to put certain people in jail if you ask me
評論: I have closed 2 out of 3 parts of my position at 335 and 325, lowering stop to 336 for the remaining
評論: Depending on Bitcoin of course, looks like a temp low is set and the rally has created a bull flag so far. So if Bitcoin makes a correction, ZEC could rally towards the 400
評論: So we have a breakout already, price should move towards the 400 now
評論: Could be seeing something like this, as long as the 335/330 holds, this (this timeframe) uptrend stays intact
評論: So far still following the blue line, should go higher from here, there is still some room to go lower but ideally it goes up now
評論: Buyers need to show some confidence and push above the previous high, if they can't that this whole thing could turn into a bearish wedge
評論: The rally seems to be failing, i am not sure yet of the trend line, from which it just fell out off, but it seems to be real. This could mean, that if the 335 breaks, it could drop towards the previous low again
評論: Seems that they turned it into a bullish triangle, bulls seem to be fighting back now. Things chance if it breaks the previous high around 367
評論: On request, since that last rally was a fake one, it's almost certain it will drop. This small triangle gives a target around 315 and the 300/320 area is a big support level. Can't say if it will hold of course, will depend on what Bitcoin will do, but so far it has been pretty weak. If bulls manage to push it above 350 again, than things will look much better
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Thanks @botje11 for the update. I was able to buy Zcash only via BTCZEC pair, so if it moves with BTC, it will make no good for me. However today, it wen up from the resistance to 34x with no BTC help, so probably there will be a way out ffrom this for me, if I am lucky. Hope will see soon. I keep an eye on 350, and the support, and BTC as well.
Fenderson Fenderson
@Fenderson, I meant: it went up from the support to 34x
@botje11 piggybacking on the previous comment, it reached $379 and $324 going into the gemini listing. Don't know how to interpret this. Could you please let us know what the chart is saying? thanks.
@botje11 It looks it definitely broke the previous high of 367, it went up until 379. Things changed? How? It is dropping since then. In the last 15 hours it dropped by 25. Do we still following the blue line above?
Where does one short ZEC? I thought Kraken allowed it but I was mistaken.
ctharvey Bull_llamah
@Bull_llamah, Finex maybe?
Bull_llamah ctharvey
@ctharvey, yea it wasnt bitmex. im gonna stay away from finex
Bull_llamah Bull_llamah
Figured it out. Must be Bitmex
unexpected zec
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