swilton

ZRXETH correction

Short
BINANCE:ZRXETH   0x / Ethereum
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2
Heavy resistance, historically overbought, and bearish divergence. Long term looks pretty good, but it's time for a correction as people shift their gains into other coins.
Comment: Resistance and divergence on multiple hourly and daily timeframes is really extreme. I stand by my call 100%. This last move to 0.002 is running on total exhaustion.
Comment: Finally, the dump begins. There will be a lot of volatility in this area during consolidation. Good for trading if you know what to look for on shorter timeframes.
Comment: Five million and one reasons why it's likely to bounce here... but I want it to keep going down :(
Comment: I think the correction is almost over. This is an unusually optimistic prediction, but I expect up to 2.5x increase over the next year. Invalidated if it breaks below horizontal support. I'll make a separate post for the long trade.

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