its just normal PA . in fact , on one chart here its heading now for 420 again . and 330 level was a good long entry . might have some difficulties before that . but not that bad either .
the following chart represent something called Wolfe wave in technical analysis . not much known, yet IMO its most powerful thing in technical analysis . I see it as a refinement of Elliot wave . yet the theory by itself needed more refinement in order to be used effictivley . but this is not the scope of the post .
it shows exactly where was the selling should have been at point number 5 . (the suggested 800 USD price .)
and it shows where the target is " the balance line ( around 350 ) which ends the whole move .
and if you notice there is a small secondary wave (pointed in green) which gives a buy indicator ( suggested 330 )
targeting small balance line (around 420 ) .
this is how a chart should look like , never zoom in ( the candle sticks are irrelevant and you miss the whole picture) and never put all those fancy colorful indicators (they are just a useless distraction ).
when you remove your emotion and bias from the trading process. things become clearer and just a part of your daily routine.
Thanks for the graph, @dbfusion! Since I’m not a trading person, this helps me! It would be nice to see more of this from folks who have experience and success. This is “price speculation”…
Krapen’s at 384 r/n. There were people who got a great deal on ZCash about 4 hours ago. I was feeling a bit queasy, frankly, and my beautiful Italian girlfriend was calling me “Crypto Cranky”…haha!
one thing , feelings shouldn’t exist in trading .
same as Greed/fear can easily ruin you .
excitement/depression have exact same effect .
never get excited in winning and never get depressed in losing .
its an ongoing process that keeps repeating itself .
I win and lose . and I get winning streaks and losing streaks . and trust me no matter how brilliant you are in trading , you will have losing streaks. but all must come with zero effect on emotions .
and I go to bed and sleep without even thinking about it .
and it actually became careless lifestyle for me almost
I will try to post more stuff like that in future .
The longer people stay out, the more we can get at least. I think a lot of the monero bros aren’t considering the need for fiat gateways until we have true crypto adoption (which is a really long way off in my opinion - at least 7-10 years for what I would consider adoption, and probably further out for full blown adoption). With that, having both shielded and non-shielded addresses are going to be a massive win. With regulation hammers coming down, no government will kill crypto, but they could make the crypto to fiat gateways really difficult. Having the option of the public address will allow for regulated transactions when they are needed, while the shielded accounts will protect us and our assets long run. Still surprised ZEC wasn’t on there at all, but a lot of really smart people can see where ZEC is headed, and that comforts me.
I also think the Zcash team is really strong, and have enough skin in the game to see this through long run. I don’t see that similar layout used much, or in a similar manner. I also believe they are working with the right people (like Vitalik), which will ultimately help a ton as we keep pushing forward.
ZEC -5% @ $53 million volume
i do consider $53 million volume an illiquid market…
zcash needs more USD gateways.
zcash needs yen volume.
kraken needs to allow zcash margin trading.
this is all that really matters. if this doesn’t start happening our markets will become stale/boring
@kek I think if Kraken allowed the same funding methods as Coinbase and relaxed the verification process they would gain more market share. Right now from my perspective there is no slowing down in accumulation. I can see a lot of people doing a sell off at the current price driving the price down even more. The people in the shadows will then come in and scoop those up to drive the price up. Give it two weeks to a month and you will see.
@phakov Putting ZEC into Coinbase is both good and bad. It’s seems like they shave off more than the miners fee when you transfer to them and then take a percentage when you transfer to fiat. I do however like that Coinbase does transfer the funds into my account same day.
seems-like people aren’t taking time to learn the difference between alts …if kraken allowed margin trading; would attract traders (liquidity) that don’t really care about ZEC, but will trade. this will hopefully make it more difficult for entities to downtick our markets on kraken like they do. i’m completely okay with price corrections, but don’t like illiquid markets.
This is only crypto and the world is coming to an end for some, imagine if they know more about Planet X? I believe from reading some articles and following pothead Mcfee, something is up and we will hear from it pretty soon!