Short

Updated

ZCash Wave-C Correction Short

Long term I am very bullish on ZCash, but after it blew past the min fib level it was time to let go on the way back up. I will reevaluate in October in prep for wave 3!!! Meanwhile we can open short trades soon.

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Pay attention here. If we breakout above the 0.618 the entire pattern changes here. I think its unlikely, tho.

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OH! Wave-B is not over!

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New possible pattern: Wave B might now be over, and you could still have 20% points still left to go. GL bulls!

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***not be over!

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Breaking out of flag!

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I'm not quite sure what to make of this, as its a complete mess. We went over the max fib, but we also touched the min fib (in reaction to BTC fall?). I think we are going north bound either way, to finish wave B or to start wave D. I would not bet on a short to wave C... yet.. :P

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Trend line is around $175 on my chart.

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OK, I am thinking we are heading towards wave C now. Careful buying with little reversal confirmation as I expect BTC to contiune its correction at some point this week.

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Watch for a breach of the trend line

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We still have not found the bottom. Just an FYI: there is a major support at the $140 level.

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NEW THREAD looking at the ZECBTC pair:

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We kissed MAX TP here. Now we need to start looking on how to go long in the ZECUSD pair. Pay attention to the ZECBTC chart, as long as the major trend line holds there, when the bulls return to BTCUSD we will see very good gains in the ZECUSD chart.

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Here we go:

Trader6127

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Trader6127