SUMMARY
ZCash (ZEC/USD) belongs to the Cup & Handle species. The below chart clearly outlines the cup pattern and the handle formation. Price has been meandering within a horizontal channel and I project that won't be for much longer as shown by the blue Elliott Waves that will reach for the $1,126 target.
Now look at the chart below for STEEM. Many are frustrated with STEEM, many are angry because they had bought STEEM at a higher price. They are not looking at it correctly. They remain uninformed and thus likely to succumb to their emotions! Technical Analysis will help you with controlling your emotions. The below chart is almost identifcal to that of ZEC. It matters none that it's taking it's sweet time. Let it! STEEM is set to explode UP but in its good time.
Back to ZEC. The below chart outlines the resistance levels (blue lines) which I use to determine the landing points of my Elliott Waves for price pathway. Many forget to utilize the horizontal resistance/support lines and only use the angled trend lines. This is a mistake as the horizontal lines are often more valuable. Note how the waves touch and get repelled by the resistance levels and then breach to be repelled temporarily by another resistance. The video explains this much better and in detail.
Here is a chart of the ZEC/BTC pair. Of course, the power of combining Chart Pattern can't be forgotten as it makes Technical Analysis a powerful algorithm. Below shows that while the ZEC/USD patterned out the Cup & Handle, the ZEC/BTC hass just completed patterning out the Bullish Downward Pointing Symmetrical Triangle! The "sepciation" of Altcoins is becoming a fascinating phenomena! They either land Cup & Handle, Symmetrical or Jaws of Death. Some even interbreed and combine these...fascinating for any zoologist looking to see crypto coin species evolving in real time!
The Zec/BTC pais has breached out of the upper triangle line and is set to rise very high towards 0.1804 BTC!!
Those who are about to profit MASSIVELY from ZEC...I SALUTE YOU!
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**