ZCash - ZEC/USD -- can we see the pattern?
I am an Elliotician, and I have been perfecting my craft over several years of trading. I construct my own analysis and trade my own charts. I have a PhD in Engineering, so I love to research and learn, and share my learning and work with others. I love Elliot wave principle, and blend it with standard TA as well as, where possible, FA to get an edge, which I am looking forward to share with you on a regular basis.
I would appreciate your feedback and support so please don't hesitate to reach out to me.
Here is my ZEC/USD or ZCash coin pattern:
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Seems that an uptrend has started after a nice bull flag had formed which broke to the upside. However, corrective waves are fractals and it could make another bull flag down after entering the resistance zone highlighted on the chart.
Will this happen, or will it blow through the resistance zone and on its merry way to all time highs? The charts don't opine on that (yet) so we have to wait and watch.
I will be sure to update you as soon as I get more information from the price action! Stay tuned!
Hope this analysis was/is/will be helpful!
Note: you can right-click and open charts in new tab to see them at full size -- they are quite large and clear.
Very interesting. Thank you for sharing.
Do you think we will see a short term pull back from here are the 40% increase in price over the last 2 days @phisight?
Hi Colin, Yes, there should a pullback soon - here is the expected micro path -- the micro charts are not very reliable to count forward as the fractals are waves within waves and so until we get some sizeable pullbacks hard to assess where the price is in the fractal. But nevertheless, here is my best guess as of now.
Very easy to follow charts. Do you think crypto space overall looks ready to launch
Some look ready, others need one more correction ... these are like buses (or trains, or planes) standing in the departure zone, ready to depart one after the other!