Trades and Analysis for ZEC, FLOKI, ADA, BAT, and ETH

🍻 Here’s what’s on tap 🍺 

Analysis and setups for Zcash (ZEC), Floki (FLOKI), Cardano (ADA), Basic Attention Token (BAT), and Ethereum (ETH).

 Beer Goggle Charts 🥸 

Zcash

For years, shorting ZEC has been the one thing in the world easier than fishing with a tactical nuke. And for years, ZEC bulls have been more frustrated than a mosquito in a mannequin factory.

But that all might change here pretty soon. Maybe. Probably not, but this the closest that this Jurrasic Park, triceratops pile of shit of a crypto is going to get.

From an Ichimoku perspective, Zcash needs the Chikou Span to close above the Cloud in order to make any further progress higher. That means ZEC would need to close at or above $27.60.

But let’s look at the weekly chart, too.

This thing is so bad, it hasn’t had a new all-time high since 2017 and hasn’t closed above its weekly Cloud since 2021. A paragon of failure.

By the way, I am saying this as a bull on Zcash. I’ve been a bull and hodler of Zcash forever, but like an emotionally abandoned lover, I just can’t let go.

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Floki

Before we take a look at at Floki, I need to do some Elliot Wave 101 for those not in the know. Also, I removed the wicks from the candlesticks as a personal preference in using Elliot Wave with instruments that move like someone who just smoke coke, PCP, and meth:

1. A divergence between price and momentum occurs in Wave 5.

2. There are a few ways to project Wave 5

   • Wave 5 is 61.8% of Wave 1 - 3.

   • Wave 5 is the same range/length as Wave 1.

   • Wave 5 is the inverse Fib ratios 123.6% to 161.8% of wave 4.

BUUUUUT, big but here, that massive green candlestick from back in February? It’s part of what’s known as an Extended 3rd. Why? Because it’s long. And big. And yuge.

And here’s what we know about Extended 3rd Waves:

1. If Wave 3 is extended, expect Wave 5 to be about equal to Wave 1.

So, what does this all mean? It means Floki’s near-term top is in, or very close it. But at the same time, we’re talking about Floki and memecoins. And anything that moves like it ingests PCP, meth, and coke doesn’t give a fuck about some dood named Elliot and his principles.

Cardano

Cardano’s testing a dominant interior trendline that is proving to be a real hardass. Bulls closed ADA above that trendline on May 20, but the bottom of the Ichimoku Cloud just bitch slapped bulls down again.

And that might have been a good thing in the near-term. Why? Because it was one of the best, most perfect short setups since its prior swing high near the $0.80 value area in March.

Hell, it could still playout that way, but the bears are either unwilling or unable to commit to a sell off here. And their opportunities to do so are dwindling fast.

Cardano has three major resistance areas to close above on the daily chart, all between $0.461 and $0.468. If bulls can close ADA above the Kijun-Sen at $0.468, the road to $0.53 becomes much, much easier.

Basic Attention Token

Not much to say here other than tap that ask. The top of the Cloud (Senkou Span B), is something to watch out for, though. Senkou Span B is the strongest and toughest level cross above/below and close above/below.

And if it’s flat, it exacerbates its natural strength. If it’s flat over a long period, it’s even more difficult to break. Senkous Span B is at $0.282, so if you’re long or thinking about going long, just look out for that value area.

Ethereum

Changing things up here with a Point & Figure chart for ETH because the pattern on the $20/3-box chart is just hawt. The setup is one of the most sought-after Point & Figure setups out there: the Bullish Catapult.

Without going into the specifics, the setup is like this:

• Buy Stop at $3,880 (wait for the hourly to end)

• Stop Loss/Trailing Stop at $3,760

• Max Target Zone: $4,310.

• If the current column of Os prints an O at $3,740, the setup is invalidated.

The Max Target Zone is established using the Vertical Profit Method in Point & Figure. Consequently, $4,310 is where the 61.8% Fibonacci extension sits as well.

Nice Charts Can Be Found Here 📈 

Cluster Dates 📅 

Derived from NASA's Jet Propulsion Laboratory data and analyzed through the lens of Gann Analysis, the ensuing date intervals warrant close observation, particularly when a market or specific instrument exhibits strong directional momentum. In such instances, there's a substantial likelihood of witnessing a sharp reversal in trend around these pivotal dates.

In other words: put these in your calendar in ALL CAPS and write something like PAY THE F*CK ATTENTION KK THNX.

• May 17-28

• July 15

• August 14 -22

• September 7-17

• November 17-19

Gann Stuffs - Don Thy Tinfoil Hat 🧙 

The following dates and prices come from Gann’s Square of 9. The Square of 9 was one of Gann’s tools that he used to identify when and at what price levels major changes in an instrument could occur.

Pay special attention if Bitcoin trades at any of the price levels on/near any of those dates, especially if they share the same degree.

For example, if Bitcoin is trading near 52,441 on March 30, 2024 (both are 180-degree levels), watch for major moves to occur.

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