ZCash (ZEC): Broadening Pattern Still Intact
SUMMARY
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The below chart of ZCash (ZEC) shows that price is traveling on an ABCDE sequence of which A, B,C and D are complete. The Final E wave rise could be starting (blue circle). Price has now for the second time briefly pierced the lower blue trendline and that is often a bullish indicator as it removes weaks hands or would be quick sellers.
The closeup shows that there was a distinct five wave impulse move upwards (white). This current retracement has been a very 3,3,5 Flat type as shown. The yellow lines also demarcate a downward bullish wedge pattern. The impulse five waves are actually themselves subwaves to a higher degree of trend wave 1 and the abc are subwaves to a higher degree of trend wave 2. Once complete, wave 3 should take prices in trek towards the E wave.
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Again very interesting article.. Thanx for research :-)
When will people learn that these stock market graphics mean nothing because crypto is not the stock market!
No, it's not--but it is a "market--" and (supposedly) similar rules should, therefore, apply.
ZCash or should i say ZCRASH?
What's that again? ;)
I'm just looking to establish a position in the Steemit community, and would appreciate to find some people like me, so we can mutually support one another. subscribe @khaled4444
Thank you for this and for supporting me @haejin during my struggling STEEMIT days
Coins mentioned in post:
Would love to hear your thoughts on Zclassic. If the value reaches to anywhere it's been historically, that's sky rocket profits right there 🚀🚀
Thanks for this very enlightening article on the Bitcoin. I'll have to go through the tutorials for a better understanding.
This will happen once the market starts to recover again. We need to see higher highs overall! I am confident that ZEC will go up though.