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).