- November 16, 2020
- Posted by: virtualxstore
- Category: trading
As the weekly candle closes for Zcash we edge closer to a decision point. Following a major multi year sell off that was briefly interrupted for a few short rallies ZEC has been forced to a point of decision. It just so happens to align with the reduction in supply in terms of block rewards.
Possible “W” bottom formation followed by a higher low on the weekly chart. This could be the point of the market cycle where the overall sentiment turns more and the same demand (which likely continues growing) as before pushes up price due to reduction in supply.
I will allow the chart to guide my opinion in the coming days and weeks.
Interesting times my friends I wish you all peace and happiness.
Not Investment Advice.