ForecastCity_ME

💡Don't miss the great buy opportunity in ZECBTC

Long
BITTREX:ZECBTC   ZCash / Bitcoin
Midterm forecast:
While the price is above the support 0.00355, beginning of uptrend is expected.
We make sure when the resistance at 0.00490 breaks.
If the support at 0.00355 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:
The RSI bounced from the support #1 at 23 and it prevented price from more losses.
While the RSI resistance #2 at 48 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 0.00660 on 10/12/2020, so more losses to support(s) 0.00370 and minimum to Major Support (0.00355) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 34.

Trading suggestion:
There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.00370 to 0.00355). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
We would set buy orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.00370)
Ending of entry zone (0.00355)

Take Profits:
TP1 @ 0.00440
TP2 @ 0.00490
TP3 @ 0.00560
TP4 @ 0.00675
TP5 @ 0.00750
TP6 @ 0.00865
TP7 @ 0.01000
TP8 @ 0.01250
TP9 @ 0.01500
TP10 @ 0.01700
TP11 @ 0.02150
TP12 Free

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ForecastCity English Support Team ❤️
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Comments

Thanks for sharing this idea.
+1 Reply
ForecastCity_ME sofi_Morphy
@sofi_Morphy, You're very welcome!
Reply
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