Now that ZCASH has broken out of our original consolidation box and is consolidating into a new one, it's time to consider some future movements.
Looking at Gann Fann (Blue) we can see a handful of confirmation points to signal that ZEC is respecting gann theory. This gives us confidence that our new zone is strong given that it crossed into a new gann channel. Gann caught the all time low retrace and in theory should catch the all time high fairly accurately.
Looking at Fibs (Teal), there were two major points of respect early on in ZEC's life that tell us that the market is using fibs to aid in it's movement. This gives us our target for ZEC during this next leg which just so happens to be relatively close to the top of the grey gann.
Clearing the monthly pivot is always a good sign after a breakout and we spent some time there testing it before moving further north.
Broke all time highs with relative ease and we are currently retesting. Some consolidation here is expected, especially given bitcoins state.
Volume is healthy.
All in all, this may be my most interesting coin right now. With only 1 million in circulation and significant large scale attention, this coin has insane potential.
Looking at Gann Fann (Blue) we can see a handful of confirmation points to signal that ZEC is respecting gann theory. This gives us confidence that our new zone is strong given that it crossed into a new gann channel. Gann caught the all time low retrace and in theory should catch the all time high fairly accurately.
Looking at Fibs (Teal), there were two major points of respect early on in ZEC's life that tell us that the market is using fibs to aid in it's movement. This gives us our target for ZEC during this next leg which just so happens to be relatively close to the top of the grey gann.
Clearing the monthly pivot is always a good sign after a breakout and we spent some time there testing it before moving further north.
Broke all time highs with relative ease and we are currently retesting. Some consolidation here is expected, especially given bitcoins state.
Volume is healthy.
All in all, this may be my most interesting coin right now. With only 1 million in circulation and significant large scale attention, this coin has insane potential.