Seems altcoins will start to follow Bitcoin growth.
Channel bottoms have been reached shortly without really breaking them.
Looks like many of "old boys" consolidated in similar very way (Zcash, Monero, Litecoin - check my other analisys).
Dash as one of the first ones today to show the future movement with shortly breaking previous highs.
Loading alts might be a good idea at this point.
They might have more to gain in short term than Bitcoin.
In my opinion much easier to imagine ZEC goin from 185€ to 390€, than bitcoin from 4k$ to 8k$.
Channel bottoms have been reached shortly without really breaking them.
Looks like many of "old boys" consolidated in similar very way (Zcash, Monero, Litecoin - check my other analisys).
Dash as one of the first ones today to show the future movement with shortly breaking previous highs.
Loading alts might be a good idea at this point.
They might have more to gain in short term than Bitcoin.
In my opinion much easier to imagine ZEC goin from 185€ to 390€, than bitcoin from 4k$ to 8k$.
Trade active
Note
Touched the support line. Should bounce in similar way that Litecoin did yesterday and Monero today after reaching the trend line. Strong support at 170.Note
Look like Zcash bouncinig strongly from the trend line. There is still time to catch this train.Note
Bitcoin retracement pushed down other coins which brings nice discounts for ZEC also. Still inside price channel, able to buy cheap.Note
Zcash once more touched the channel boundary. Looks like still challenge to break it. However staying positive about huge potential that can break even the channel line. Other typical cryptocurrencies have done it already - first DASH, then MONERO and yesterday LITECOIN. All go into the same "coin group".Note
Great retracement. Huge buy opportunity. "Buy when majority sells, sell when majority buys!"
Trade closed: target reached
Closed part of position. Left some for long run.
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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.