Shotokhan

ZRXBTC on the move... FINALLY!

Long
Shotokhan Updated   
BITTREX:ZRXBTC   0x Protocol / Bitcoin
Ok, I admit it, I was very very annoyed with this one! I've entered at begin of February which in retrospective was a month in which I should have just traded BTC for short periods. However after a long wait ZRX is moving up again and hopefully this will go over its ATH.

IF you entered the trade when I posted my old TA on this one you're currently +20% so congrats if you followed me before. However let's talk about current situation: price is currently hitting an ichimoku resistance, to leave the chart more tide up I've left that shorter purple rectangle to indicate it.

I think it's likely that price gonna bounce off this resistance and go down. You can accumulate at 2885sats (buy 30% here) and also at 2715 sats. Should price go lower than this last resistance sell to cut potential loss, a thing which is likely to happen if BTC start pumping big.

The bullish scenario is that in 3 days price enters the cloud (again, not shown here) and gains momentum to pierce it and break upper resistance. If this happens you better have your bags filled ;)

In any case this trade can also take weeks but in a way or another I think ZRX will do very well and return good high profits. The project itself has wonderful FA and this counts!
Comment:
Currently over 35% since my call and my time analysis was respected, within 3 days price pierced the cloud (it took 2 days). Congrats if you followed me! I see a bear DIV at 4h just over the ichimoku's upper resistance so it's possible we'll se a retracement from here. I expect ZRX to do much more than this so 2 options:
1) sit and wait through the retracement;
2) sell and enter at the bottom of the retracement. Your call but remember to have ZRX in your bags! ;)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.