Zcash (ZEC)

Zcash is holding at the previous high wick from December 2nd. There was one full bodied, one hour candle close prior to the current candle. That’s a stronger signal than a trendline retest, because it shows buyers stepping in earlier and defending the prior breakout point. I would like to see the current candle hold above the previous high as also for more strength. If this level holds, continuation toward the 1.618–1.702 extensions becomes the higher-probability path. If it does not, look for a retest at the descending triangle breakout level.#ZEC

If buyers don't step it up there is still a chance #ZEC could retest the area it just broke out from https://t.co/MDW6O8oI9j

Here's a macro look at the #ZEC structure. There are several fib levels and trend lines that will probably present some areas of resistance and places you will see pullbacks to consolidate at as price pushes higher. https://t.co/Xi9bRH3z3C

$ZEC Hindsight because I haven't been online much last couple days but for future reference, notable volume at lower support was a good sign for a reversion to happen Heavy buyer pressure pushing momentum the other direction https://t.co/v9zKdQ8mTU

$ZEC / Zcash Strong ascending triangle breakout. We cleared the $380 overhead resistance, and it now acts as local support as bulls try and push for a reversal. My focus shifts to $440 to determine a confirmation in trend change. That area is the decision point due to: > 38.2% Fib; this was the pivotal support that held the line before the flush to $300 > $440-$450 liquidity zone; a prior proven reaction zone across multiple timeframes Breaking through both would be strong confirmations that structure has flipped to support a bullish move. However, it's crucial to remain aware of a common chart trap in these situations. After a brutal correction, price can often clear a series of local overheads to fake out longs, before flushing at the pivotal point. That's why for me, if price convincingly breaks through $440, that concern is completely alleviated as it's the most pivotal overhead for bulls in the short-term.

Ya'll think I just let this ZEC trade ride for awhile && win the entire @synthetix szn 2 trading comp? Cause i mean... I have now risen 50 spots on the leaderboard off this trade alone. Only right, we make the gravedancers pay for their nay-saying about the privacy coin... right?

If #ZEC spends a little time consolidating on this trend line, the next move up typically comes with momentum. A strong push through the 1.618 is the usual pattern, followed by a controlled pullback to retest that level from above. That kind of structure often sets up the next leg higher. It might look something like this.