Crypto Contest December 23: Zcash
Zcash has broken the four-hour wedge pattern.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Zcash has completed five waves from the December 21 low in the one-hour chart. The five wave advance could have finished today December 23. Zcash should next correct the advance from the December 21 low in three waves.
(Chart courtesy of Tradingview.com)
Looking at the two-hour chart, Zcash is most likely in the wave three (sub-wave ii). The wave one started on the December 19, and finished on the December 20. The wave two correction ended on the December 21. If this wave count is correct, Zcash should be heading higher to takeout the December 7 peak in the coming weeks.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Zcash.
If you think this analysis is correct, upvote this post and upvote the comment "Zcash will takeout the December 7 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Zcash will drop below the December 19 low".
If you think Zcash is in a range, upvote this post and upvote the comment "Zcash will stay in a trading range between the December 19 low and the December 7 peak until January 20, 2017".
You can upvote the comment until 3 PM EST December 24 and you can upvote only one comment. 200% of Steem (2 X 0.467 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.
Zcash will takeout the December 7 peak (22 voters as of 3 PM EST December 24: steemychicken1, otisbrown, bleujay, yefet, gregory-f, nextgen622, majes, anotherjoe, inertia, kingscrown, idnit, jdbry, digit, soundmoney, jahtech, idnit9, idnit1, steemradio, steem1653, mrfoot, fortinbuff, legends).
Takeout the peak.
This post has been ranked within the top 50 most undervalued posts in the second half of Dec 23. We estimate that this post is undervalued by $5.64 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Dec 23 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Zcash will drop below the December 19 low (3 voters as of 3 PM EST December 24: me-tarzan, twinner, landofcrypto).
Zcash will stay in a trading range between the December 19 low and the December 7 peak until January 20, 2017 (1 voter as of 3 PM EST December 24: spinbunny).
You won.
nice blog marrnio
upvoted and followed
you know i am holding some Zcash as a mining reward from Genesis mining contract since nov
price falling in last month make me want to puke some time , now i can see some hope , may be it will be profitable contract at the end :)
Yes. Zcash could be building a bottom here.
Nice! Happy x-mas to you.
Thank you elyaque,
Merry Christmas!