ZClassic: Bull flag and Major Announcement...Time to buy?
ZClassic [ZCL] seems to be "fighting" against the upper resistance of a very well defined and long Bull Flag:
- ZCL has rebounded 3 times clearly on the lower support by (a), (c) and (e)
- Additionally, the good signal is also aligned with a new appeared at ''Bitcoin Private" twitter on the January 24th:
- Personally, I am expecting a bull run in the coming days which very likely will bring ZClassic to double its price.
First Target, 0.02BTC (78% more) completing the 3rd wave.
Short Description from Cryptocompare:
"ZClassic is a cryptocurrency forked from Zcash. It has the exact same features as ZEC, including its private transactions protected by zero knowledge proofs and its Equihash Proof of Stake mining, but with no founder's reward. This founder's reward is currently deducted from mined zcash blocks (20% of all block rewards during the first four years of mining which will amount to 10% of the total zcash supply). By removing this founder's reward ZClassic wants to make mining fair for everyone involved."
I think now could be a good opportunity. As usual, plan your exit points in advance.
*This is just my personal point of view, please, do your own assessment and act consequently.
ZCL is the good coin which has to be hodl for the long term its big coin so its movement will be little bit slow
Thanks for the tip, one question though, will the price not go even lower before going up then what (2) expects, since it failed to break resistance on even lower numbers before. I am still trying to learn and want to figure out how these dynamics work. It seems most of the time before the big bull there is a dip that corresponds to around mean point of the wave before. How do you figure out that it will act differently?
Of course it may fall... TA is a theory that tries to anticipate the future, but not a Law ;-)
Well trying to minmax may get you burned, but buying too soon may burn you more if trend reverses. I guess that is why it is best to hodl, less headaches and you will make money eventually.
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