ZCoin looking like it's going for a 40% drop after a 25% increase

in cryptocurrencies •  8 years ago  (edited)

As from the chart above the W pattern produced a high of about 25% which is normally a 40% which means the head and shoulders pattern beside it might produce a 25% drop as well. However as the W pattern was more clustered and the head and shoulders more rounded as it should be it would look to produce a more fuller pattern.

With the herd mentality showing it in place there should be another drop unless of course separate news occurs. This article is referring to technical trading by following chart patterns and the logic behind the herd with a pattern like a W already formed it makes sense that the secondary pattern would follow through. The head and shoulders appearing at the end of the chart with the chart with the first shoulder appearing after the W pattern.

if this helped you a tip would be appreciated

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