ZCoin (XZC) Needs to Breach the Upper White Line

SUMMARY

I still remain solid to the below larger degree of trend for ZCoin (XZC). These larger degree of trends are not time correlated but rather wave correlated with Fibonacci relationships. Wave 1 is complete and wave 2 is in progress. The pattern is displaying a downward pointing symmetrical triangle. When will we know that wave 3 has started? When price breaches the upper white line of the triangle.

The below chart shows a closer view of the WXYXZ triple combo pattern. While the price movement should be more sideways for a wxyxz; I've labeled it as so. The key is to see if price can breach the upper white line as that would then free it to rise higher. IF the resistance holds, then one more lower could be potential. Regardless, whether the line is breached now or later, the destination is expected to remain unchanged.

Legal Disclaimer: 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.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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