ZCL held up great overnight. Instead of coming back all the way down to support, we got another leg up. We are now consolidating and the 1 hour RSI is almost reset. The Bitcoin Private Twitter account published an encouraging tweet yesterday, encouraging us that progress is being made. The next thing we need to watch for is whether or not Bittrex will support the airdrop. That would be huge news and it would undoubtedly validate the project. I think that once ZCL and BTCP announce a specific date, we will see an announcement from Bittrex.
On the 1 hour chart, we are currently consolidating while the RSIs cool off. I doubt that we see that bottom support line again unless BTC makes a big run. Here’s the 4 hour chart:
The 4 hour RSI is still high, but it has retraced a little. Once the 4 hour gets a little lower, we could see another leg up immediately. Again, I am watching this coin closely because of how fragile these projects can be, but I’m not looking to day-trade this coin. Holding until the BTCP snapshot.