Crypto Contest November 16: Zcash
Zcash (ZECUSDT) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
Elliott Wave Analysis
In Elliott Wave terms, Zcash began a wave one advance on February 23. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 14, and the red wave two (blue sub-waves a-b-c) correction ended on September 15. If this wave count is correct, Zcash should be heading next towards the June 14 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Zooming in the four-hour chart, I believe Zcash is currently in the red wave three. The red wave one began on September 15.
(Chart courtesy of Tradingview.com)
Funnymentals
Zcash is a privacy coin explained by the team as:
Zcash is a decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions. Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private.
(Source: https://z.cash/)
If you think this analysis is correct, upvote this post and upvote the comment "Zcash will takeout the June 14 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Zcash will drop below the September 15 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 September 15 low and the June 14 peak until December 17".
You can upvote the comment until 3 PM EST November 17 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
Zcash will stay in a trading range between the September 15 low and the June 14 peak until December 17 (25 voters as of 3 PM EST November 17: helikopterben, miniature-tiger, twinner, flemingfarm, simonjay, ace108, misalen, crokkon, mprgrmmr, starline, lasper, tzap90, coolthings, mirda, ahinga, mehdibca, cassidyandfranks, carlosdaniel, richard78624, andy23, ragnaros, c-c-c, margaritaradkova, nikossa1908, koskl).
Zcash will takeout the June 14 peak (25 voters as of 3 PM EST November 17: bleujay, lydon.sipe, bentleycapital, eirik, lucasgabd, reconnectnature, catena, dirty.hera, tfeldman, gregory-f, kunschj, glennolua, jznsamuel, skririm, criptorafa, yefet, toofasteddie, digitalking, kanoe, allmonitors, mihail.tsvetkov, napkin, elisablogs, heidelbaer, freskil).
By Dec 17th? Maybe you can add the date that it will take out the peak? It may be next year...
Yes. Before December 17.
If you read carefully:
"The winners will be determined by the price action (which one happens first)."
It is always possible that we dip below the September 15 low before taking out the June 14 peak and both could happen before Dec 17.
Thanks for the clarification
You won.
thanks for the info
Thank you elevator.
Zcash will drop below the September 15 low (3 voters as of 3 PM EST November 17: dlina-v-metrah, gunsmithing, me-do).
zcash seems to be building some steam so it'll be interesting to see what it does.