Crypto Contest September 22: ZCoin
ZCoin (XZCBTC) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, ZCoin began a wave one advance on December 3, 2016. The red wave one finished on December 9, 2016, and the red wave two correction ended on January 4 this year. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on April 8, and the red wave four (blue sub-waves a-b-c) correction ended on August 17. If this wave count is correct, ZCoin should be heading next towards the April 8 peak in the red wave five.
(Chart courtesy of Tradingview.com)
Zooming in the four-hour chart, I believe ZCoin is currently in the blue sub-wave iii.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "ZCoin will takeout the April 8 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "ZCoin will drop below the August 17 low".
If you think ZCoin is in a range, upvote this post and upvote the comment "ZCoin will stay in a trading range between the August 17 low and the April 8 peak until October 23".
You can upvote the comment until 3 PM EST September 23 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
ZCoin will takeout the April 8 peak (14 voters as of 3 PM EST September 23: bleujay, bentleycapital, soundmoney, architrader, flemingfarm, themovieplace, libert, yinyangboobookat, dirty.hera, digitalking, eirik, napkin, yefet, abay).
lately I've been a 'stay in the range' man but for this one I'm thinking yes 'takeout peak' zcoin look slike more persuasive price action... we'll see!
ZCoin will stay in a trading range between the August 17 low and the April 8 peak until October 23 (25 voters as of 3 PM EST September 23: fitinfun, twinner, allyouneedtoknow, gregory-f, simonjay, lydon.sipe, lucasgabd, misalen, catena, jznsamuel, miniature-tiger, starline, komischername, dlina-v-metrah, mirda, coolthings, ahinga, incrediblesnow, heroic15397, toofasteddie, abh12345, ragnaros, allmonitors, andy23, crokkon).
You won.
ZCoin will drop below the August 17 low (8 voters as of 3 PM EST September 23: gentlebot, skririm, gunsmithing, criptorafa, cassidyandfranks, mprgrmmr, razorwave8, me-do).
Just on the surface, this reminds me of The Accountant where they say 'ZZZ Accounting' isn't Yellow Pages friendly. In other words, it's not really named to get attention. The name Zcoin is 'ok' but add the alphabet soup (XZCBTC) and it's not one I'd not even look at. However, it may be a good coin and I need to read up on it... thanks for pointing it out maarnio!
ZenCash and Zcash are also strong today.
Big question is. ZEC will follow? Just broke out as well.
Lucas Malabarize-se
I think it will. ZenCash also.
This wonderful post has received a bellyrub of 12.72 % upvote from @bellyrub thanks to this cool cat: @maarnio. My pops @zeartul is one of your top steemit witness, if you like my bellyrubs please go vote for him, if you love what he is doing vote for this comment as well.
Dude
Great post and very informative. @maarnio Have learnt a lot from it.
Zcoin has a potential to reach Z-Cash price in next 12 months!
This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond