Zclassic is on the move on Bittrex and with good volume . Depending on the close today, we can be looking at getting out of a downtrend that was formed back in early August... We start with the daily chart to get used to Zclassic (ZLCBTC):
- The last two candles are big green. The last one that closed was a full green candle yet the volume was low. The next candle, today's candle (which is the last candle to the far right of the chart), is a large green candle but with really good volume . This candle is showing the biggest volume since July yet we are at the bottom of a wave.
- You can see the down trendline in red and the EMA10 line in blue, both these lines are being broken today, strong resistance broken with strong momentum and volume , this is a good bullish signal.
- Then we have our indicators, MACD , RSI and STOCH . They are all trending up now and with force, good momentum. We know this isn't a "fake" jump because of the volume and the overall market sentiment. We've been seeing altcoin after altcoin grow big time in price and maintaining that new price afterwards. So seeing Zclassic (ZCLBTC) move up next, with good volume backing it up, makes it a normal occurrence. For this reason we will position ourselves to open a trade for ZCLBTC, in expectation of additional bullish action in the weeks coming ahead.
- Now, we are not looking at a few hours or a few days. These trades can take weeks and even months to develop. The next bull market can take several more months before it can fully materialize, but we are seeing signals that a wave up is coming regardless of what happens long term... So, my friend... LET'S TRADE!
Let's use the weekly chart to spot the profits potential and move on to our trade instructions:
- Depending on your buy in, we are looking at around 555%+ profits potential if we challenge April's peak. And a massive 2755%+ profits potential if we challenge Zclassic (ZCLBTC) February 2018 all time high. Creating a new all time high can generate even higher profits. To create a new all time high, the altcoins market needs to go on a bull run.
- Volume is still average for the week but the week is just starting. At this rate, we will have the biggest volume on the weekly candle since April. So far, volume is still building up on this time frame.
- The support level at which the price bounced has been holding for long, and also held ZCL 0.68% price back in March 2018.
- Remember, wave up, wave down, wave up, wave down... We had or wave down... now we want our wave UP! October can be a nice month for crypto...
Trade instructions by Alan Masters Trades
Buy in: 0.000564 - 0.000637
Targets for ZCLBTC by Alan Masters:
(1) 0.000745
(2) 0.000905
(3) 0.001165
(4) 0.001355
Stop loss:
(1) Close below 0.000545 on the daily candle (low risk / short term).
(2) Close below 0.000484 on the weekly candle (long term / strong stop).
Capital allocation: <10%.
Note: This is a long term trade. Please allow time for this trade to develop.
You can raise your stop loss above buy in price as soon as we hit our first target.
Remember to diversify, split your capital between multiple trades. You can do 5% to 10% of your capital per trade.
For low volume coins/tokens/altcoins, you use a smaller percentage of your capital if you like lower risk.
For high volume and well known projects/coins/tokens/altcoins, there you can use bigger capital up to 10% per trade.
These are just guidelines that you can use to better your trading.
Remember that patience is key.
Buy and hold... set your sell orders on target (as instructed on the "Sell for Profits" articles) and later collect the profits.
That is all that it takes, to trade successfully and get paid.
Namaste.