Bavo_De_Bondt
Long

ZRXUSD: RSI, HMA, Takashi Bows -> Long

BITFINEX:ZRXBTC   0x / Bitcoin
Hello,

below I see a favorable setup for ZRXBTC for the short-mid term.

1. Takashi bow signals a buy signal
2. The daily closed significant above 80 Hull moving average ( HMA ) this signals a mid term change in direction of the trend
3. The RSI left the overbought zone, the previous 2 times this was the start of a mid term run
4. currently at strong support established since April

The 38% and 61% fibonacci zones are good target zones to take partial profit in my opinion

Attention BTC is currently at a resistance and can retrace a bit. Later it can continue it's short term run towards the 7K levels before getting potentially rejected at 200 MA again or the established downtrend since mars as I noted in previous BTC analysis's.
A potential BTC rejection would most probably take away the momentum of our ZRXBTC trading pair.

I'm looking forward to your feedback.
keep in mind: no financial advise.
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