Trend timeframe showing Zcash has been in a major downtrend since being added to Bittrex. Price was recently rejected from resistance at 3.3 million satoshis. Expecting price to retrace towards our major support level 2.5 million satoshis. Stochastic RSI showing no signs of slowing down.
Shifting over to our pattern timeframe we see price respecting it’s descending triangle structure, and is looking to reach the bottom of our triangle for dynamic support. Stochastic RSI showing momentum continuing towards the downside with no signs of bears easing up. Expecting a weekly bounce off 2.5 million satoshis, will not be looking at daily for any confirmations.
Daily
Higher Highs and Higher Lows being presented.
