ZcashShort
Zcash Turned To The Downside, Can We Sell It?
Timeframe: 60M
Main Scenario: ZEC/USD is trading in the red and approached important dynamic support lines after the failure to make a valid breakout above the inside sliding line (sl). A valid breakdown below the lower median line (lml) and below the outside sliding line (sl1) will confirm a further drop. You should wait for a valid breakdown because this could be only a temporary retreat and the rate could increase a little before will really start a significant drop.
Alternative Scenario: The rate could increase again if we'll have only a false breakdown below the lower median line (lml), the 50% Fibonacci line and below the outside sliding line (sl1).
Entry/Stop Loss/ Take Profit: You will have a great selling opportunity from 180.38 level, with a target at 165.83 level. The Stop Loss could be placed at 187.65 level.
Duration: 3-5 days
Consolidation/Ratification level: You should drag your Stop Loss below the opening price after a valid breakdown below the median line (ml) of the descending pitchfork.
Warning Level: You should be very careful because a failure to make a valid breakdown below the 50% Fibonacci line of the descending pitchfork will invalidate a further drop.
Risk Management: Risk/Reward Ratio: 2
Main Scenario: ZEC/USD is trading in the red and approached important dynamic support lines after the failure to make a valid breakout above the inside sliding line (sl). A valid breakdown below the lower median line (lml) and below the outside sliding line (sl1) will confirm a further drop. You should wait for a valid breakdown because this could be only a temporary retreat and the rate could increase a little before will really start a significant drop.
Alternative Scenario: The rate could increase again if we'll have only a false breakdown below the lower median line (lml), the 50% Fibonacci line and below the outside sliding line (sl1).
Entry/Stop Loss/ Take Profit: You will have a great selling opportunity from 180.38 level, with a target at 165.83 level. The Stop Loss could be placed at 187.65 level.
Duration: 3-5 days
Consolidation/Ratification level: You should drag your Stop Loss below the opening price after a valid breakdown below the median line (ml) of the descending pitchfork.
Warning Level: You should be very careful because a failure to make a valid breakdown below the 50% Fibonacci line of the descending pitchfork will invalidate a further drop.
Risk Management: Risk/Reward Ratio: 2
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