On request of some twitter followers, I made a chart for ZEC.
Long term: we can see that ZEC made a big move up and retraced all the way back to the accumulation zone. Last week, it broke out.
This might be the time to start another big move upwards, normally it should be possible to make a new ATH (!).
Short term: in a 5 legs upmove, right now retracing to 4. Possible zone for 4 is on the chart. Depending where 4 comes, we can determine 5 and the possible pullback after completion of this 5 waves.
After that ABC correction it could start next wave to new ATH.
Tradingadvice: wait for the price to come closer to the trendline and see if it makes a bounce. Buy the bounce and place your SL below the trendline.
Pls note that this coin is very hard to chart for me. It always makes deep pullbacks. Its a long way to new highs, will try to update here.
Long term: we can see that ZEC made a big move up and retraced all the way back to the accumulation zone. Last week, it broke out.
This might be the time to start another big move upwards, normally it should be possible to make a new ATH (!).
Short term: in a 5 legs upmove, right now retracing to 4. Possible zone for 4 is on the chart. Depending where 4 comes, we can determine 5 and the possible pullback after completion of this 5 waves.
After that ABC correction it could start next wave to new ATH.
Tradingadvice: wait for the price to come closer to the trendline and see if it makes a bounce. Buy the bounce and place your SL below the trendline.
Pls note that this coin is very hard to chart for me. It always makes deep pullbacks. Its a long way to new highs, will try to update here.
Note
I dont know what happened, but the 2 charts on the right side, show a wrong set up. Chart on left is the good one and how I look at ZEC right now.
We made leg 4, broke out of that channel (yellow trendline) and retested it, again in the blue box. Should be going for (5) now.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.