Looks like XZC has been ranging since launch in a Flat Correction .
I would expect that for this type of correction, we'll see a one-to-one extension of wave A & C. If wave C fails to reach the one-one extension, I'd consider it a double failure, which is quite rare but possible. With this in mind, we could see a further 35% drop in price against BTC. If the target is reached, I'd be looking for some serious price movement and a 180 degrees shift in momentum. Very limited supply, very strong project and humble team. Definitely one to watch in 2020. To get things moving, a fundamental shift in the value of privacy is required, and there's plenty of potential catalysts on the table.
Any EW traders with a different view, feel free to share.
Comment
⋅
Jan candle took out five months of bearish action. Hard to be bearish here. Will be keeping a close eye on XZC. Looking good for now.