WBM_Team

ZEC - Zcash - Time for reload! Short temporarily.

Short
BITFINEX:ZECBTC   Zcash / Bitcoin

Hi Folks!

We had a very good news regarding Zcash last time. It will be listed on Gemini Exchange. The price has exploded.
It may go even higher as looking at the big picture of ZEC we are very low according to Fibonacci levels (big scale). The second chart with bigger picture illustrates this.

Right now it is good time to stay vigiliant and reload or simply buy ZEC. We may encounter massive gain within following weeks/months.

So we observed finished Elliot Wave pattern (1-5). We have to prepare for the correction waves (A-C). Wait till it's finished.
Looking at the volume and Weis Waves we can see now demand is spent. Following green wave is signifiantly smaller than previous one.
Waiting for higher supply. Price should decrease then.
We assume perfect levels for reload would be at Fibonacci small scale at level between 0.03465900 and 0.03940200 (green rectangle ).
Of course it has to be confirmed by Weis waves.

Technical analysis summary:
  • Elliot Wave pattern finished (1-5)
  • Expecting to have correction pattern (A-C)
  • Weis waves - demand is spent - significantly smaller green wave observed
  • Reload or buy at level of between 0.03465900 and 0.03940200 (green rectangle )
  • Waiting for the confirmation from Weis Waves indicator - trend reversal.

Stay tuned.
If you have any ideas/thoughts don't forget to question and comment in section down below.
If you want to be up-to-date don't forget to follow us.

Hugs!
WBM Team
Comment: Guys. Wait till buy zone which is at level of between 0.03465900 and 0.03940200 (green rectangle ) . After ABC Elliot Waves cycle is finished.
Comment: In order to be sure we are following ABC patterns watch the level 0.046 (last peak).In case we omit ABC patern we may go higher and break quickly level 0.046. If so 0.046-0.050 will be level to buy
Comment: Guys still no confirmation of growing demand.Wait to reload.
Comment: No green wave appeared yet. Stay cool.
Comment:
Comment: Guys, demand is spent - look at the consecutive green waves - there are getting smaller. On the other hand red waves are getting bigger - supply is growing.Wait ABC cycle to be finished. We should get to the buy zone which is marked as green rectangle.
Comment: Unfortunately we are not at tradable level... Or we go down to buy zone or we break 0.0456
Trade closed manually: Guys. There is no demand and supply is growing. We have to wait for trend reversal.
We are closing this for the time being. Observe the level of 0.0456. We will launch new analysis. This one will closed.
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Comments

Hi man, would you think ZEC can go up to FIB 0.382 0.73456 in any cases this time of the year?
Or now it just find another bottom for reloading.
Thank you in advance!
Reply
WBM_Team azuredrag2403
@azuredrag2403, Hi. Well it all depends on the BTC and its rally. Anyway we realy on volume. Difficult to predict when but for sure in some time. This is strong coin and widely recognizable so stay positive. For the time being demand is spent and supply is getting bigger.
+1 Reply
nice work :D
this will strengthen your idea
Reply
How low do you think we may drop tonight
Reply
WBM_Team Bitwet
@Bitwet, Sorry for lat answer. We think reload or buy zone is at level of between 0.03465900 and 0.03940200 (green rectangle ) . After ABC Elliot Waves cycle is finished.
Reply
Thank You for the solid update. Zec is my baby!
Reply