SUMMARY
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ZCash (ZEC/USD) is still traveling within the very large broadening pattern as shown in the below chart. The blue E wave still remains the target. Either white wave 1 is complete is has a bit higher to go; either way, wave 2 needs to be placed. The rounded bottom fractals still remain and the purple fractal is probably about half complete. So, this means that price is still in the basin phase (white rectangle). From a forward discerning perspective, white wave 3 could coincide with the top of the right wall and the handle be formed as wave 4.
Here is the MACD for ZEC and it is traversing within a symmetrical triangle pattern (blue lines). It made an attempt to breakout and has returned inside and I'm expecting for it to try again with bias for success (blue arrow). This type of MACD pattern is now very common and is indicative of the market readying. Readying for what? The continuation of the original trend which is UP!
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Elliott Wave Counting Tutorial #1
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Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?
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