$ZEC has most likely now lost the H&S neckline for now, and has also fallen below the 1 fib level and a descending trend rail that parallels the upper (white) trend rail. The question now is if the measured move ends up playing out? The $1,000 area would be my next target. Will that level hold? Only time will tell! I need to evaluate RSI and volume when it gets there. I would certainly anticipate some type of bounce at that level as the macro .236 and micro 1.414 fib levels both align with the macro channel midpoint, in addition to the psychological number of 1K.
Eric Van Tassel (Not a Financial Advisor!)Share
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