$ZEC 618 Return
Looking for an eventual run to the 618 here on ZEC which is also the measured move of the broadening bottom. Each checkmark along the side is likely going to act as short term resistance, the first being a critical support flip.
The second, is the top of the range created with the broadening bottom / downsloping accumulation. To expect a continuation from there, youll likely see a partial decline, and a breakout on the second attempt.
The 50% retracement zone there is the original extension level i wouldve targeted at 87, but could reach as high as 97, if you factor in the recent spring event.
Levels will be easier to dial in after the first real move away from this level following a proper checkback, and would be calculated with a simple 1.618 extension of the first completed wave up.
The second, is the top of the range created with the broadening bottom / downsloping accumulation. To expect a continuation from there, youll likely see a partial decline, and a breakout on the second attempt.
The 50% retracement zone there is the original extension level i wouldve targeted at 87, but could reach as high as 97, if you factor in the recent spring event.
Levels will be easier to dial in after the first real move away from this level following a proper checkback, and would be calculated with a simple 1.618 extension of the first completed wave up.
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