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Elliott wave Analysis: ZCASH Bullish Trend Confirmed

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Cryptocurrencies are the most popular in the last couple of months and after that sharp decline at the end of 2017 and at the beginning of 2018 we can finally see a recovery in an impulsive manner.

Many cryptocurrencies show a bullish setup, but Zcash is one of them, which can already be bullish confirmed. If we take a look on 4-hour chart, we can clearly count impulsive five waves up into wave A/1 from lows, which is the first evidence of a bullish reversal. We can also see this rally on many cryptocurrencies like Neo, Dash, Ripple and Omisego, just like a slow corrective A-B-C structure into wave B/2 back to ideal 61,8% Fibonacci retracement.

But as you can see, Zcash already sharply bounced from that wave B/2 support at 228 level, while Neo, Dash, Ripple and Omisego still waiting, maybe they are next. So, this sharp and impulsive bounce with five waves up towards 385 level gives us a signal that bullish trend can be confirmed and we may see much higher levels for wave 3 of three towards 500-600 levels or maybe even higher. And if we take a look on a smaller timeframe, we can see a corrective three-wave drop, so sooner or later Zcash could continue it's uptrend.

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Zcash 4h

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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About the author

Grega Horvat



  • Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of, but before that he was working for Capital Forex Group and His feature articles have been published on:,, Action forex, Forex TV, Istockanalyst, ForexFactory,,, etc. He recently won the award on for Best Forex Analysis in 2016. At he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.


  • To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

Gregor Horvat
Chief  Technical Strategist
Skype: ewfservice


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