We have been suggesting here and on twitter like a broken record that the ETH and XBT trades were hyper-extended and overdue to correct. It looks like big money and/or hostile forces have taken advantage of the two corrections to force out weak hands from many altcoins. These are the days when if you are not leveraged, you ought to play golf or take the kids to the park. The current selling will end, so if you are not leveraged, and if you failed to sell the highs, it might be a good idea to just relax and take a break. Markets will almost certainly rise again in a few days, like the phoenix. No need to panic.
ZEC is looking like a great trade. Both short term and longer term charts have a bullish feel to them.
This 60 minute chart (bear setup) showed support was found at the 5th pair and the top of square, as shown above.
This bull setup on a 144 minute chart
Read more ... source: TheBitcoinNews
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