I mentioned 1268 a little after 5 p.m. It’s climbed above that tonight and is now hovering around 1280.
Bitcoin has been moving sideways all night, while ZEC is one of the few major coins moving up on its own. Trading volume over the past few hours this evening is clearly higher than this morning’s—not a rally on thin volume.
But what I’m looking for is a daily close above 1268, and there’s still plenty of time before the close. A brief intraday move above it doesn’t count; what matters is where the candle closes at 8 a.m. tomorrow.
I’m leaning bullish, but I won’t chase it. The 50-day moving average is just above 1300. It was still above 1600 a month ago, so plenty of people are sitting on losses up there and may sell if it rebounds to that level.
My plan is to watch for a solid daily close above 1268 and a retest that holds, then consider a small position targeting 1300. If it falls back below 1268, I’ll treat tonight’s move as a false breakout.
Do you think it can hold 1268 by tomorrow morning’s 8 a.m. candle?
$ZEC #Zcash
This is only my personal opinion and does not constitute investment advice.
Bitcoin has been moving sideways all night, while ZEC is one of the few major coins moving up on its own. Trading volume over the past few hours this evening is clearly higher than this morning’s—not a rally on thin volume.
But what I’m looking for is a daily close above 1268, and there’s still plenty of time before the close. A brief intraday move above it doesn’t count; what matters is where the candle closes at 8 a.m. tomorrow.
I’m leaning bullish, but I won’t chase it. The 50-day moving average is just above 1300. It was still above 1600 a month ago, so plenty of people are sitting on losses up there and may sell if it rebounds to that level.
My plan is to watch for a solid daily close above 1268 and a retest that holds, then consider a small position targeting 1300. If it falls back below 1268, I’ll treat tonight’s move as a false breakout.
Do you think it can hold 1268 by tomorrow morning’s 8 a.m. candle?
$ZEC #Zcash
This is only my personal opinion and does not constitute investment advice.
