ZenCash - Massive R/R opportunity This alt is solid AF. The team is awesome and they have some cool things in the works. ZenCash is more than just another fork of ZCash with zksnarks, they make use of secure nodes and this makes the network on that is unique and offers more than most "privacy coins".
As I've said in previous posts, the alt market and crypto market as a whole has been very depressed this year, I'd say it's a good time to look to buy a few alts, taking on very little risk and looking for that insane return. We know this crypto market, and how it's capable of pulling out all the stops and surprising everyone. Wouldn't it be nice to be a part of that before it happens?
Reason for trade: There are other, less useful alts with higher market caps. I know this market is irrational, but once it gets its head straight, money will flow to decent projects like Zen. I mean DOGE has a fucking $360mil marketcap for fuck sakes.
Time-frame: 1 - 3 months
Shoutout: ZClassic, for being a piece of shit coin that keeps farting out forked coins like they're going out of fashion.
ZENBTC trade ideas
ZEN/BTC at Meaningful JunctureZEN has seen considerable movement ever since the Palm Beach Shill Report, but it's dropped precipitously since the Mt Goxening part 2. Predominantly, volume has been lacking for any significant movement as of lately. If ZEN can break upwards then it has one major pivot / inflection point before reaching its next line of resistance. With ledger support coming, its uptick in marketing and outreach, and its cheap node investment are all signs that I see a good 2018 for ZEN.
Recent News:
Reddit AMA: www.reddit.com
Crypto Invester Show Booth: twitter.com
Ledger Hardware Wallet Support Coming: mobile.twitter.com
ZEN ATM's announced for South America: www.reddit.com
Zencash VS Bitcoin Approaching Key ResistanceFollowing the previous idea on ZenCash cryptopost.com , the price has started to grow as expected after rejecting the btc 0.0033 support. The upside potential remains very large, however, to realize it, there is a major resistance that has to be broken first.
The resistance is at btc 0.00567, that is confirmed by two Fibonacci retracement levels. If ZenCash will manage to break above, the price could go as high as btc 0.01.
On a downside note, break and close below btc 0.0033 could send price lower, back to the next support at btc 0.0025, but it still should not invalidate bullish outlook.
Ascending Triangle on ZENBTCI'm seeing an ascending triangle (which is bullish) on ZENBTC on a 30m chart. Stochastic and MFI showing oversold conditions indicating a reversal. MACD will have a crossover if the next couple of candles close green, giving us further confirmation of upward movement. My entry is while the price is closer to the lower line of the triangle and exit will be closer to the upper line of the triangle. I want to be in the trade for a shorter period of time so I am not waiting for a breakout and rather exiting the trade just below the resistance, for a 10% gain.
I opened a long position at 0.00473000 and placed a sell order at 0.00520300 (10% gain).
Criticism welcomed!
And ZEN will speakZEN what can I say? Its chart speaks for itself, ZEN held up very well during the recent dip. A strong privacy platform and currency, people are starting to figure out it is ZEC without the 20% founders fee but with a sustainable treasury model for development and marketing and a masternode staking system to earn a % of the fees instead. Privacy crypto-currencies and platforms will play a bigger role going forward and ZEN ranks high in that crypto asset class.