ZCLBTC Hourly Chart Analysis

ZCL had an amazing run since the announcement of the $BTCP (BitcoinPrivate) hard fork (for further details on the fork please see btcprivate.org), shooting the price up from $2 mid-December to a high of ~$245 on 1/7. As can be seen, there was a healthy correction today, with the ZCL/BTC price decreasing 28% to hit a support at around 1m satoshis. In addition, there seems to be a strong resistance at around 1.35m satoshis. We will see how this resistance holds as further news on the fork is released (whitepaper, fork date, exchange support). I expect there to be further consolidation within the 1.28m - 1.35m satoshi channel until then.