Zcash Bullish Divergence

Price bounced from the uptrend line and diverged with RSI. We got a bullish divergence near the support level. It's a trend reversal signal and we can think about entry levels for long trades. The downtrend line is a barrier for possible upward movement and it will be logical to buy above this line. If price breaks this resistance line, we'll be able to open long trades with stop orders below 140.00 support level and the uptrend line. Profit targets should be near 260.00, 300.00, 338.00 and 400.00 resistance levels. Also you can hold the trades in long term. Don't forget that the markets are under the pressure because of Segwit for Bitcoin. You must be careful with all your trades and follow the proper money managment strategies.

Kommentera:

Price is going to break the downtrend line. It will be a confirmation for possible upward movement. It will be a new buy signal.