Hey everyone!
Zcash/US Dollar (ZEC/USDT), following a strong bullish rally, entered a corrective phase that, according to Elliott Wave Theory, have completed an ABC corrective structure.
With this correction potentially finished, the asset is now showing signs of a possible continuation of its bullish trend, with Wave 5 potentially already underway or about to begin at any moment.
If this wave count is confirmed, the next move could be driven by renewed buying pressure, pushing the price toward higher resistance levels and potentially new highs.
However, it is essential to monitor key support levels, as a breakdown below these areas could invalidate the proposed wave count and suggest a continuation of the corrective movement.
It is important to emphasize that this bullish scenario remains valid only if Bitcoin and the broader macro markets do not enter new corrective phases or potentially even trend reversals, as Fausto has been highlighting and discussing during his live streams.
The key factor to watch now is whether buyers can regain control, supported by resistance breakouts and the formation of higher highs and higher lows.
For more technical analysis and to learn more about our services, check out the YouTube channel: Fausto Botelho.
Dealer Method Team.
Zcash/US Dollar (ZEC/USDT), following a strong bullish rally, entered a corrective phase that, according to Elliott Wave Theory, have completed an ABC corrective structure.
With this correction potentially finished, the asset is now showing signs of a possible continuation of its bullish trend, with Wave 5 potentially already underway or about to begin at any moment.
If this wave count is confirmed, the next move could be driven by renewed buying pressure, pushing the price toward higher resistance levels and potentially new highs.
However, it is essential to monitor key support levels, as a breakdown below these areas could invalidate the proposed wave count and suggest a continuation of the corrective movement.
It is important to emphasize that this bullish scenario remains valid only if Bitcoin and the broader macro markets do not enter new corrective phases or potentially even trend reversals, as Fausto has been highlighting and discussing during his live streams.
The key factor to watch now is whether buyers can regain control, supported by resistance breakouts and the formation of higher highs and higher lows.
For more technical analysis and to learn more about our services, check out the YouTube channel: Fausto Botelho.
Dealer Method Team.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.