Zcash (ZEC): Pattern & Waves Holding Up

in zcash •  6 years ago 

SUMMARY

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ZCash (ZEC/USD) is still traveling within the very large broadening pattern as shown in the below chart. The blue E wave still remains the target. Either white wave 1 is complete is has a bit higher to go; either way, wave 2 needs to be placed. The rounded bottom fractals still remain and the purple fractal is probably about half complete. So, this means that price is still in the basin phase (white rectangle). From a forward discerning perspective, white wave 3 could coincide with the top of the right wall and the handle be formed as wave 4.

Here is the MACD for ZEC and it is traversing within a symmetrical triangle pattern (blue lines). It made an attempt to breakout and has returned inside and I'm expecting for it to try again with bias for success (blue arrow). This type of MACD pattern is now very common and is indicative of the market readying. Readying for what? The continuation of the original trend which is UP!

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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You're a legend dude, keep on keeping on.

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