EuroMotif

ZRX.usd at Crucial "Double Bottom" Support: Likely to go Lower

COINBASE:ZRXUSD   ZRX/USD
ZRX has apparently lost its charm a few weeks ago.
It has been drifting lower while other alts are gaining.
Now at a crucial support zone or "Double Bottom".

But the Double Bottom is too obvious to everybody.
So the whales may try to break it for liquidity below.
But we do have a couple of strong fibs in that zone.

Chart notes:
Drag PRICE scale UP to expand overlapping numbers.
Drag TIME scale RIGHT to reduce and see more history.
Drag CHART itself UP to see other zones below window.



Dec 13
Comment: 1st Update (minor)

So we look to be holding support But not exactly flying off the pad either.

.

Zoom IN (15min)
Trying a fib on the last leg down That whip like move down sure looks like an Impulse.
Its ripples are somewhat definitive but not pretty.
It is common that after a sudden/strong Impulse, the Ripples are not well defined until a little further from the Impulse.
But, if we get a pullback going up, then we will look for more confirmations of the fib lines.

.

Zoom IN (8min)
Look at two fibs in immediate zone, Purple Fib from original plot still well in control.
New Blue Fib MAY be adding some ripples but still questionable.

.

In Summary:
- Not much movement yet, but slightly lower lows.
- Purple fib from original plot still in control.

Lets see what the US session brings today.

.
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