We could have finished B of (4) at 81. Or It was (i) of (5) and now we're in ii of (iii). So for new longs it could be better to wait for breakout above 80 or correction to 50.
I'm currently long on ZECUSD. Does this mean one should buy this very moment? No, not necessarily. I would recommend going to lower TF's to determine "when" might be the best time for entry. I'll post lower TF's than this 2 Day TF shortly after posting this publication.
The text bubbles speak for themselves. I do expect ZEC, ETH, DASH, XMR and BTC to do...
...in comments.
I must remain neutral on this pair at the moment. We are currently at a major resistance level. However, the way the price action has continued upward despite the green going downward when red and/or black LSMA lines exit the right side of the green line heading down, this tells us we MIGHT have a potential for a breakout brewing to possibly go...
... this was coming. Just had to make entry and prepare for it.
This was the lower TF's I'm showing.
Copy for easier view; The other in comments is my actual chart:
Been watching the developments of ZEC for quite a while...
Looks like the short term bottom is in with yesterday's capitulation below 0.022 BTC / ZEC.
We're also seeing a test of falling trendline in ZECUSD pair.
As always, stop loss at 0.0245. Just slightly below the current consolidation point.
...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...
