ZClassic, before the correction, was an explosive crypto. Still is, potentially.
The wild markets have taught me I need to up my game. I spent some time learning Elliot Wave and will continue to learn.
Utilizing Elliot Wave, it could be nearing the end of its high consolidation, and will proceed to an ending wave 5 rally soon. After that, it could put in some kind of correction. owing to volatility surrounding the fork.
My counts could be wrong, wave 3 ending could be wave 5 ending, but I don't think it makes a difference. The long consolidation is either part of wave 4 or a corrective wave of larger degree. If my count is correct, Wave 5 could approximate the size of Wave 1, which is 200%.
They are forking to "Bitcoin Private" at the end of Feb.
It all comes down to whether you think "Bitcoin Private" will succeed as a thing. Fundamentally, it's like Bitcoin or Bitcoin Cash but better. If it takes even the market cap of "Bitcoin Gold" that represents a significant increase from current prices. I believe throughout Feb they will be marketing more aggressively, they just raised some money from the community to fund marketing / exchange listing.
I'm currently not in it. I didn't have strong hands. I took the donation drive as bad news. But I will watch it closely here.
Wait for breakout / confirmation of the triangle. Anything can still happen.
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A closeup. What will happen next?
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Pie in the sky target based on Elliot Wave channeling
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There is a small breakout occuring. Not a ton of volume, yet. FIrst resistance is top of rectangle. I entered half position, stop would be a few % under the trendline.
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This is now at an excellent place to buy / add:
It is a backtest and you have a logical stop below. IF this thesis is WRONG then you get out with acceptable losses and back to Bitcoin, rather than stuck in a "hope & pray" situation.
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This now looks like a backtest of the larger bull flag AND a tag of the 50 dma.
This would be an excellent place to add / enter if you're not already in, with a stop below.
So, what's your top target range for ZCL just before the airdrop for those who wanna dump before the fork? You see this at $1000? Thank you
tangman
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Hi @cryptoniac90,
I can barely predict what's happening the next day much less two weeks from now. But if it starts a bullish Wave 5, two ways to predict it:
- Elliot Wave channeling puts it about 0.13 BTC, about 1000% from here. Pretty unlikely, but not unheard of in crypto. And this thing has a history of rising 11000%. What's another 1000%?
- A repeat of Wave 1's performance would be 200% from here, or about 0.02 BTC. Still not bad, IMO.
This is all if the entire crypto market returns to its previous bullishness. A huge IF, but looking good so far.
We're currently in a wave 4 correction. There *should* be one more wave 5 up in this larger Wave 5. We are two weeks away from the fork. I suspect a larger correction will occur near or after the fork.
I think BTCP has a lot of potential and I will hold a good chunk long-term.
kulie
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@tangman ok thanks , waiting for the full of fomo 5th wave :) . BTW do u have any time frame for this?
IqbalPerdana
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I think it will be 5th impulsive wave, we already finished 1-3 and 4 is still ongoing. If we use some rules for Elliot, it will be as long as the first wave since the 3rd wave is the longest. My predicition it will peak around 3 million sats.
its_leo
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might work out if the market hits green double digits for atleast 3 days straight