Zencash VS Bitcoin Calling For ActionZencash formed the support at btc 0.0010 where it formed a double bottom back in October 2017. Almost immediate spike up followed reaching the high at btc 0.0052. However, after that ZEN/BTC consolidation continued and only recently it broke above the downtrend trendline and the 200 Moving Average.
Zencash bounced several times off the 200 MA and the once of the downtrend trendline that are obviously now acting as s strong support. All these facts are just calling for action as Zencash is looking very attractive in terms of a buying opportunity. The price could grow by 220% as strong resistance is seen at btc 0.01, confirmed by two Fibonacci retracement levels.
ZENBTC trade ideas
ZENCASH ANALYSISBITTREX:ZENBTC
Two possible scenarios of price analysis for this one: Either the candlesticks form a Head and Shoulders pattern then the price will go down or the candlesticks will go through the uptrend channel. Stoch RSI on a 1 day chart indicates that it is good time to buy as well as MACD indicates the divergence.
Bull Flag on ZENCashThis is appears to be a Pennant continuation pattern after breaking positively from the previous consolidation.
I view ZEN as a long-term investment and ultimately a dominant player in the privacy coin space, and as such it offers value at these levels.
As unique from other privacy coins, ZEN offers end-to-end encryption.
ZEN team up with CardanoGreetings! Charles Hoskinson announced multiple times that they will implement IOHK's new DAO/treasury system with ZENCash. Verge surprised me, and I think we all agree that privacy is a major topic in crypto, so let's see how it plays out!
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ZencashIf you divide the chart in the middle you will see zencash created a support and resistance line. Inside there we also see a cup&handle formation that broke out perfectly. Now it seems like it has created a new support and resistance level, instead of a cup&handle we see an abcde correction inside. If the price hits close to E I will take up a major position for the next breakout.
Disclamer: I currently hold no zencash, and this is simply my opinion.
ZEN still time to catch 20-33% gains.BITTREX:ZENBTC
Nice little doji candle
General uptrend over the last 12.5 days
Bullish kumo
Last line of resistance before .038 range
Buy in around .0314 or wait till after it breaks the resistance line if you're cautious.
Stop loss around .029
Target short term around .038 Long term .042