The below chart of ZCoin (XZC/USD) is still patterning out the basin phase (white rectangle). The bull flag has been breached and soon, it seems like price should start building the right wall of the rounded formation. This means that after the basin is completed, there is pretty much nowhere for the price to go except higher.
Here is the chart with the Elliott Waves, pattern and MACD indicator. The EW shows that wave 1 is complete and wave 2 is still being worked on. But the MACD doesn't care about minor corrections, it seems like as shown in below chart. It's coiling and coiling and coling until it won't be able to anymore. On a bigger time frame, the large rounded price formation could likely generate a Cup & Handle (blue).
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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