From TradingView · · 40s
Zcash 8H timeframe critical moment for ZECUSD
Zcash could break above 1256 to restart bullish trend for COINBASE:ZECUSD.
In brief
Zcash could break above 1256 to restart bullish trend for COINBASE:ZECUSD. Zcash needs to break above 1256 to confirm wave 4 red completion and start wave 5 red. Originally reported by TradingView.
Zcash 8H timeframe
Zcash needs to decisively break above the green channel at 1256 to gain initial confidence that wave 4 red is completed and wave 5 begins.
Critical breakout levels
A breakout above 1386 will add significant strength to this scenario. Invalidation: 1048 A break below this point would invalidate this plan and could act as a triggering moment for price to go down to…
Target for wave 5 red
Target for wave 5 red is around 2200.
The bottom line
Zcash needs to break above 1256 to confirm wave 4 red completion and start wave 5 red.
