I'm watching one line on $ZEC this morning: $1,234.
Monday evening closed at $1,248. Tuesday afternoon dipped to $1,234.34 — and held. Since then the closes have climbed a staircase: $1,293, $1,299, $1,309.
That is what a breakout retest looks like when it works. The $1,234 level is now the floor, and every close since the retest has printed higher than the last.
I am not comfortable yet, though — I have seen this film before. A big inflow week in September was followed by three weeks of outflows while $ZEC slid from near $1,690, and the $1,368 window high still sits overhead. A retest that holds is not a trend — it is permission to watch the next close.
My lines are $1,234 below and $1,368 above. A 4-hour close back under $1,234 breaks the breakout story.
I am watching the 11:00 close: does it hold above $1,300, or hand back the staircase first?
Not financial advice. Do your own research.
$ZEC #Altcoins #Zcash #PrivacyCoins #Breakout #ZcashAnalysis
Monday evening closed at $1,248. Tuesday afternoon dipped to $1,234.34 — and held. Since then the closes have climbed a staircase: $1,293, $1,299, $1,309.
That is what a breakout retest looks like when it works. The $1,234 level is now the floor, and every close since the retest has printed higher than the last.
I am not comfortable yet, though — I have seen this film before. A big inflow week in September was followed by three weeks of outflows while $ZEC slid from near $1,690, and the $1,368 window high still sits overhead. A retest that holds is not a trend — it is permission to watch the next close.
My lines are $1,234 below and $1,368 above. A 4-hour close back under $1,234 breaks the breakout story.
I am watching the 11:00 close: does it hold above $1,300, or hand back the staircase first?
Not financial advice. Do your own research.
$ZEC #Altcoins #Zcash #PrivacyCoins #Breakout #ZcashAnalysis
