ZCash About to Pop!? Nightly Crypto Recap 5/29
Happy Memorial Day everyone!
I was scrolling through my charts tonight and noticed Zcash Volatility has dropped tremendously and is consolidating. I will tell you why I think this is so interesting, but first let's look at the chart.
We are looking at ZEC/BTC
In periods of low volatility (compact price movement), usually you can expect there to be a huge breakout or breakdown as volume starts to re-enter the market and traders decide the next move. Let's take a look at our good friend Bitcoin to see how this has worked in the past...
As you can see, low volatility with declining volume can lead to explosive moves!
If you have questions, feel free to ask!
Disclaimer: All of the information presented is for educational purposes only. I do not not recommend the buying or selling of any of the mentioned assets. I do not assume any responsibility for your trading results. There is an inherent risk in trading cryptocurrencies due to volatility and liquidity so trade at your own risk!
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