I bought some ZEC just above 0.236 on the Fibonacci (Fib). Now I am waiting to see if ZEC will bounce a couple to times off the 0.236 Fib or keep nosediving down its wedge. If it breaks below 0.236 on the Fib I will wait to see out a complete retrace to 0 on the Fib plus a rise above 0 on the Chaikin Money Flow (CMF).
ZEC has been one of the strongest Alts this run.
Of course it crashed along with the entire market.
But now it is at a pretty strong support zone.
Given the momentum, it is likely to slip one zone yet.
It is possible we get a good bounce here in the meantime.
But overall $62.50 looks very interesting for long term buy.
See some of my other plots and trade...
ZEC has been a high flyer amongst all of the Alts.
It peaked as expected, same time as BTC of course.
Now the inevitable retrace is here and progressing.
94.46 - 95.04 should be a decent support with bounce.
87.44 - 88.72 would be the extended retrace target.
77.73 - 77.20 will be essentially Bulls' Last Stand.
See some of my other plots and trade calls...
Entonnoir : W/D/H4 (swing)
Biais haussier en weekly. Le daily est en train de compresser (jaune) et on a une compression H4 (bleu) qui est en train de se former à cheval sur la compression daily. Si elle casse par le haut, ce sera un bon setup pour se positionner à l'achat.
Funnel : W/D/H4 (swing)
Bullish bias on weekly. The daily is compressing...
Quick plot to map some possible support zones.
ZEC looks to be itching to join its brothers in running with the bulls.
It recently spiked on Coinbase, perhaps due to a "fat fingered" order.
Now it is retracing that spike and may well take it all or mostly back.
83.62 - 84.11 should be first good support.
79.55 - 80.08 should be very strong support.
77.26 - 77.69...
This is part of my ongoing series about the "Pulse" of assets.
ZEC has been on the bull run along with the entire market.
The rhythm has been perfect all along, including 11.618 spike.
Each of those lines is worth paying attention to.
Trades from one line to the next are safe bets.
When this rhythm stops, look for a new one.
every Wave is...