Safe Haven from the Regulations, People want hide their assets for personal reasons and many other things! Also it is expensive to hide your bitcoins and mix them with different wallets.
Privacy is what people are wanting in almost every aspect of their lives and some of the biggest companies have seen this as a business opportunity.
Anyways about Technical Aspects of this trade...
The Price broke first Downtrend Line and is holding against MA100 (orange line). Once the Price manages to break upwards from MA100 level and 415 this is signaling possible continuation in price movement. There are some important resistance levels ahead such as MA100, of 415 and Downtrend Line. These levels are important to watch for because once they break they are giving confirmation of uptrend continuation. Otherwise price might reject and move further downwards.
There are couple of ways to trade on this. Buy orders can be set above Of 415 or Above The 2nd Downtrend Line with Stop-Loss at 309.
Importance of waiting. If the price rejects 415 level and moves further downwards, then it is important to watch for reversal zone (blue box) and make new entry with confirmed reversal signals.
Zcash is one of the top Privacy Coins in 2018.
Trading Information for ZCash ( ZEC / USD ):
Buy: above 415
Partial Profit Targets: 467 / 487
Main Profit Targets: 568 / 588
Longer Term Targets: 719 / 798
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM 0.17% in here or in my twitter. I try to respond ASAP! :)
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.