So ZCOIN is a privacy coin amongst many, but one of the lower market cap coins. It has some interesting variation on the ZCASH technology I believe, and a strong community that supports it. To be honest, I don't know a ton about it, but today was a trading day so I picked coins that I saw having high upside in the short term.
If you look at the past few months on this chart, you can see ZCOIN has undergone some huge runs up with equally massive collapses. This chart to me is currently 50/50 so I'm rolling the dice a bit. The MACD has crossed over signal line and is heading into positive space. I could see price action either pushing through the red cloud at the small pinch, which is where MACD would cross over zero line, or bouncing off of it and hitting support where it may range for a bit.
To be honest, I pulled the trigger on this trade while I was on the road as I figured it had hit bottom and was heading up. Now that I am sitting and reviewing charts, I'm not as bullish, hence 50/50. Also, there seems to be 'large' orders that are moving around a bit which suggests some larger holders are still accumulating and manipulating things, so this may be a longer hold than planned. Amateur mistake. Always use all your tools before placing an order.
So reminder, take your time when placing orders. If you miss one, there's always another one coming.
Orden cancelada
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Hello all,
apologies, i've screwed up and hit short when it should be long. Misunderstood what I was doing.
Sorry, I have misunderstood the terminology on these when I post. I was thinking of timeframe, not 'shorting' vs 'long'. Thanks for the comment, will adjust int he future. As my profile suggests...Still learning.
jimjames244
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I actually appreciate all your comments, but not sure why you titled this "short" when you are actually long? That is misleading.
It all makes a great long case to me, which of course depends on your time frame, and expected return.