ZECBTC Nearly Ready for Takeoff
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Zcash BTC pair is nearing its all time low, and I expect to see a bounce from here to complete the ABC correction and start a new cycle.
Chart may be a bit hard on the eyes, but notice the consistency in chart pattern from the previous run up as it compares to the last month or so. Of course my eyes will see what it's looking for, but ZEC is a strong contender in the privacy space with a higher market cap and low coin count.
$1,000 USD within reach, with 0.15 BTC target and potentially higher.
Chart may be a bit hard on the eyes, but notice the consistency in chart pattern from the previous run up as it compares to the last month or so. Of course my eyes will see what it's looking for, but ZEC is a strong contender in the privacy space with a higher market cap and low coin count.
$1,000 USD within reach, with 0.15 BTC target and potentially higher.
Nota
BTC volatility sure isn't helping altcoins. Weak hands are selling out of alts for greed (to chase BTC) and then again out of fear (when BTC drops).The bad news... ZECBTC broke the all-time low support and has entered no man's land with nothing below to support it. And while ZEC did pop above the downtrend line, this is dangerous territory.
On the USD chart, ZECUSD attempted to break out of it's sideways channel, and came right back down into it. This sideways movement doesn't help with it's BTC pair, but this could be a good sign for upward momentum. The sideways movement indicates accumulation, with an all time high in volume spike recently. For this, I'm still bullish on ZEC on both the USD and BTC pairings.
Penafian
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