This is a forward looking analysis of
ZILBTC
using Elliot Wave and Fibonacci levels.
ZIL has been showing some strong bullish behavior since it hit Binance. It seems as thought Waves 1 and 2 have completed with Wave 3 just starting. This is an analysis of Wave 3 targets. They are:
I'm making an assumption that Wave 3 will hit the 2.618 level because of the strong performance and overall market momentum. However, 3469 is also on the table for Wave 3 at 3.618.
We saw Wave 2 retrace 50% so I'd expect to see Wave 4 to retrace the same amount. This would give us a target of about 1800. A retracement into the golden zone would around 1550 and max retracement of 1300 at .786 and touching the top of Wave 1.
I'd expect to see a Wave 5 to be 1:1 of wave 3 for a price target of about 3647.
ZILBTC
using Elliot Wave and Fibonacci levels. ZIL has been showing some strong bullish behavior since it hit Binance. It seems as thought Waves 1 and 2 have completed with Wave 3 just starting. This is an analysis of Wave 3 targets. They are:
- 1604 (1.0 fib)
- 2044 (1.618 fib)
- 2757 (2.618 fib)
I'm making an assumption that Wave 3 will hit the 2.618 level because of the strong performance and overall market momentum. However, 3469 is also on the table for Wave 3 at 3.618.
We saw Wave 2 retrace 50% so I'd expect to see Wave 4 to retrace the same amount. This would give us a target of about 1800. A retracement into the golden zone would around 1550 and max retracement of 1300 at .786 and touching the top of Wave 1.
I'd expect to see a Wave 5 to be 1:1 of wave 3 for a price target of about 3647.