...in Wyckoff's cycle to a Spring and/or Up Thrust. Yes, I could be wrong on this one and we end up going down further. However, I have a hunch this is not the case. I believe we are not far off from taking a leg up to the $50 to $55 range.
Yes, I'm saying I'm "long" on this one. However, this does "not" mean we should ignore taking the opportunity to make as...
...Test. Maybe $33.33 again? If it goes that low, I would not be surprised at all for a Spring to begin instead of it being just another Automatic Rally. It may be just another AR (2nd AR) if one thinks about the accumulation phase we're in. How long will this last before it's pumped up for a consolidation move? When pumped up, where to? That's what I would...
We are probably still in accumulation mode with ZEC in my opinion. Meaning, we more than likely will continue our current path down the lower accumulation channel. We just happen to be at and/or near the point of recorded resistance from history at the yellow resistance line.
I will leave it up to you (the trader) to determine what to do here at this yellow...
I began to consider our current up thrusts with BTCUSD while searching for Preliminary Support for ZECBTC. Then it dawned on me, with BTC pumping like this in US Dollars, it would be impossible for me to figure out PS for ZEC in BTC instead of US Dollars. Hence, the epiphany I spoke of in my ZECBTC publication.
The Weekly was too big of a time frame to TRY to...
