Wave 1 completed. Wave 2 cannot drop below $45 or chart is invalidated. Wave 3 targets below.
*In case this is an ABC, I added wave C targets. Wave C targets should act as short term resistances and I'm expecting price to break through these.*
1D RSI oversold
if first blue A-B-C = (A) or (W), second blue A-B-C=(B) or (X), then we can expect wave (C) or (Y) to follow.
e.g. Green 1-2-3-4-5 = (C) or pink A-B-C = (Y)
We know that
Wave (C) of a flat usually between 100% and 165% as long as wave (A)
Wave (Y) of a double zigzag often about the same length as wave (W) (or common Fibonacci ratio o.618 or 1.618)
. Zcash/US Dollar is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 14.
. While the price downtrend in the daily chart is not broken, bearish wave in price would continue.
. There is a possibility of temporary...
Right into action! Fractals are all over in September.
September looks like a very busy month for crypto community. And it feels very positive. A lot of the projects have been working hard this year, and they will begin to show new heights in their progress.
I am expecting September to be positive, but with the breaking of major support Trendline is concerning....
ZCash is going down in value, similar like Bitcoin and Monero did after their first rallys. The high amount of new mined coins brings constant pressure on price. Monero and Bitcoin both declined 94% in their first bear market. If this would happen to zec, price would reach 47$
The new ASIC miners are very profitable, from my calculation the production cost of zec...
Zcash is starting to appear increasingly interesting from a technical perspective as the popular cryptocurrency trades at its weakest level since March 2019. Several technical indicators are suggesting that the ZEC / USD pair could soon stage a bullish reversal if buyers can hold price above the $44.00 level.
The ZEC / USD pair has suffered eight-straight weeks...