Zcash broke out, now in a bullflag before further up
Zcash broke out of its downtrend wiht an impressive upmove.
Currently making a bullflag which gives us an excellent opportunity to jump on this train to (at least) 0.09 which is just the first target.
Wait for the price to come back a bit futher to minimize your risk. 9/10 break outs are followed by a consolidation or retest of previous trendline!
My guess it will at least retrace to the blue box, but keep your eyes on the priceaction...it can break out any time!
If you like my chart, pls check some others and press the like button!
Currently making a bullflag which gives us an excellent opportunity to jump on this train to (at least) 0.09 which is just the first target.
Wait for the price to come back a bit futher to minimize your risk. 9/10 break outs are followed by a consolidation or retest of previous trendline!
My guess it will at least retrace to the blue box, but keep your eyes on the priceaction...it can break out any time!
If you like my chart, pls check some others and press the like button!
Note
Price bounced already on 50% Fibonacci, therefore it missed the blue targetbox by a few. Looks like it broke out of the abovementioned bullflag and is on its way up.
Lots of room to the upside!
Note
The blue box was there for a reason ;-)Note
Its retracing a bit more but still in a bullflag. Keep your eyes on price action. Breaking the trendline is good opportunity to go long once it shows some consolidation.Note
ZEC retraced far more as expected....Made a new, simple chart...looks like its ready to break out. first attempt failed.
Wait for consolidation on lower timeframe before jumping in the trade.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.