**Disclamer- I am not a financial adviser and these are just my personal opinions based on some of the TA I have learned.
ZCL is in a very risky position right now. With the upcoming Fork on September 10th, positive news or FUD could make it rise up decently or fall even farther.
The ZCL team has said that they have applied to all of the top 10 exchanges based on volume and will be announcing exchanges that accept them. If they even get a few of these top exchanges, I could definitely see a very nice boost in price, atleast up until the Fork date.
Anyways, I mapped out ZCL buy and sell zones up to the Fork date. Based on Fib Retracements, I have my buy zones anywhere from .0013 to .0014. The first sell zones come at the end of wave 3 of the Elliot Waves, with sells at .0035 or .004. Finally, if it plays the waves correctly before the Fork date, then wave 5 should take us up to .006, or .007.
To even get close to these numbers though, it needs to clear some major resistance. On the 3 Hour chart, it needs to break the 200 EMA around .00165. Then it needs to break through the ichumoku cloud around .00183. On the Daily chart, there's still major resistance up until .0024. Once it breaks that then its clear to go higher from there.
Be very careful though with this trade. A lot could go negatively, but the potential is definitely there.
ZCL is in a very risky position right now. With the upcoming Fork on September 10th, positive news or FUD could make it rise up decently or fall even farther.
The ZCL team has said that they have applied to all of the top 10 exchanges based on volume and will be announcing exchanges that accept them. If they even get a few of these top exchanges, I could definitely see a very nice boost in price, atleast up until the Fork date.
Anyways, I mapped out ZCL buy and sell zones up to the Fork date. Based on Fib Retracements, I have my buy zones anywhere from .0013 to .0014. The first sell zones come at the end of wave 3 of the Elliot Waves, with sells at .0035 or .004. Finally, if it plays the waves correctly before the Fork date, then wave 5 should take us up to .006, or .007.
To even get close to these numbers though, it needs to clear some major resistance. On the 3 Hour chart, it needs to break the 200 EMA around .00165. Then it needs to break through the ichumoku cloud around .00183. On the Daily chart, there's still major resistance up until .0024. Once it breaks that then its clear to go higher from there.
Be very careful though with this trade. A lot could go negatively, but the potential is definitely there.
Arrows mark the resistance on the 3 Hour