ZEC ZCash Bullish divergence + 1st Higher Low on DailyWeekly: After an extreme drop, price went below -1 ATR, but by the looks of it, it seems it is about to close above 1 ATR level. If so, it will become a nice setup on the weekly, which I will provide a setup for, when that sets up. The impulse is still red, but when I peek at the setup of 3 days, I see it's blue already, and with crypto I cheet with this factor sometimes as it is so volatile.
I expect this to close above 100$ support. sRSI is maximum oversold and EFI is ticking up
On the daily we have a nice bullish divergence, and a higher low, which shows a rejection candle, and from there it ticks up. The bullish divergence is on both MACD-H and EFI. sRSI is already rising up and nog overbought. I expect prices to reach between the slow EMA and 1 ATR level.
stop 88,21
entry 98,5
TP 1 111,35
TP 2 115,84
I phase out in parts, therefore I set 2 target profits. But I prefert TP2 here, as this is only on 0.5 ATR, but I have to check the background of the crypto market, as we're in a bear market currently, I am therefore conservative.
PS
The arrow should point to that wick, after the bullish div, but Tradingview morphed the graph somewhat
Trade 2022#002
ZECUSD trade ideas
ZECUSD Bouncing on Structural SupportMarket structure is the enduring shape of a market through multiple cycles (major trends).
This particular structure was formed by bottoms in the first major bull trend of ZEC in 07/17 and 09/17.
It was then reinforced through tops in the first major bear trend of ZEC in 06/19 and 08/20 forming a two-year accumulation zone.
It has now been used as bottoms again in 05 /21, 06/21, and 07/21.
It has been revisited as a bottom now 01 /22.
ZEC, strong support rebound.The following content is machine translation:
The daily line rebounded near 80 three times, and all closed the lower shadow line.
Near 80 is the last wave of major pullbacks and low-level bulls' offensive position, and the support will be relatively strong.
80 is expected to be supported, see more.
Zcash Long. Rekt on shortThe ZEC/USD chart shows that a downtrend is continuing, but it would be a mistake to enter a short position right now as it would be to late, and the trader would be rekt on the short. Instead do we enter a long position, when ZEC is at its support line, to avoid this mistake.
The DMI is showing a negative trend and the Stochastic RSI is also showing that the price has some strength left before reaching the bottom. Something to note is that the EMA are about to cross and to the down side and in many cases does this show a strong sell signal, but because of the past price movement do we see that the price movement is dropping to 20-30% and this would further indicate on that we get rekt on the short as the price already has dropped with 25% from 25th of December.
Trade at your own risk.
long view Z-cash to 430$ alt seasonOn the monthly view of Z cash it appears to have turned 40 RSI into support zone. We may have more downward trending before a reversal.
At reversal point this would indicate continuation of wave 3 via Eliot Wave theory and I am targeting ~ 400$
Open to all thoughts and discussion
ZEC reclaiming average cap•••
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