Papou

ZENCASH growing momentum but be careful

BITTREX:ZENBTC   Zencash / Bitcoin
Zencash has been getting a lot of hype right now. It seems a new market cycle has started, figuring it has done a complete retrace from a prior and has broken the 2.72 and is holding the retracement so far at the 1.72 level. The market will shake out impatience and fear especially at these levels but greed will prevail; likely this rally can go to the 4.764 if volume holds and it keeps coming in. There is no better market to play at the moment so position your trades according to liquidity because on a 1 hour timeframe, we are at a steep trend however it seems to be holding stable above the 1hr cloud as seen here.

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Stochrsi on high timeframes as room to go up, market cap is currently 55 million which is nothing in comparison so definetly room to go up to target. Ideal entry would be as close to the 1hr cloud as possible, could break uptrend and fake the market out and get impatience out, buy as close to 0.0035 as possible as seen here

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Target would be the 4.764 most likely, 0.009.
评论:
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ZEN looking real uneasy, if it cant hold the 1hr cloud, the rally is over. Broke trend and is not turning it into resistance.
评论: Even though its in the buyzone, I wouldnt recommend here, not worth it and too much other noise in the market for this to attrack volume necessary to continue the rally.
评论: ZEN broke into the cloud as expected however volume is flowing back in alts now post Bitcoin Gold fork. ZEN looking to extend past the cloud and make an expansive move.

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评论: If momentum continues and we break the 0.786 I would look to take profit at the 1.61 shown here
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What do you think of it now?
回复
Thanks for the analysis!
回复
Hi Papou, please share more of your views for ZENBTC, I'm thinking about how to trade it...
回复
For the love of god dont fomo buy. Get filled on the 1hr cloud test and stop loss yourself if it doesnt work out.
+1 回复
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