Zcash Continues Bullish: The Bottom Is In, Higher Prices Forever
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Notice how Zcash continues bullish and moving within a rising channel. For this pair also, 3-Feb. means the correction/market low. This is always quite revealing because the Cryptocurrency market is one; what one does, the rest follows.
ZECUSDT has been producing higher highs and higher lows since July 2024, more than 8 months now.
The flush earlier this months is confirmed a flush because of the long wick on the 3-Feb. session candle. The lower wick is very long as the market was activating all the stop-loss orders that are set on the exchanges. This is why I recommend using a manual stop-loss. If you used a manual stop-loss, this move would result in no loss and the market recovers the next day. If you set a limit order as your stop-loss, you are simply telling the exchanges and the bots that you are committed to sell at a low price, and that's exactly what you get.
It is better to buy and hold focusing on the long-term.
Cryptocurrency is new. Cryptocurrency is bullish. Cryptocurrency is young.
With a new, bullish and young market, the best strategy is to buy and hold.
Cryptocurrency is the Internet 2.0.
We are only getting started and we will definitely change the world; for the better.
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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.