SUMMARY
ZCOIN (XZC) is imitating Bitcoin's correction mode. Not with exact like for like; but rather, sentiment which reflects a similar pattern. It's likely also that many holders of BTC are also holding ZCoin. The downward pointing symmetrical triangle, while not exactly a leading diagonal type, is expected to have one more lower low. When price gets closer to the apex; the state of being sellerless does arrive. This would be an attribute of a corrective bottom.
A magnified view allows subwave counting that provides a better "geo" positioning of the Elliott Waves. If the one more lower low is in progress, the white waves 1,2,3,4,5 will allow a pathway towards $54 or so. Would I cast a buy ladder in this zone? It's already set!
Legal Disclaimer: 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.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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