If we zoom out and take a look on big picture, we will see huge accumulation cylinder with MAJOR support and resistance. BZRX is soon to touch support and, in my prediction, this time we could break the resistance.
Important thing to watch here is Volume, and as we can see, volume is increasing when price is rising and decreasing when price is correcting. That is...
Bzrx respecting the demand line very well and is now developing bullish divergence on the 4H macd
I expect to see a test of the ATH in the coming weeks.
My trade setup for Bzx/Usdt:
Entry around $.7
Stop loss below last low: $0.49
First target, 1.272 fib from the last high to last low: $1.3
Second target, ATH : $1.74
Third target, 1.618 ATH to ATL: $2.7
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BZRX Is Going...
Buy .0.70 to 0.75 50%
buy 0.55 to 0.60 50%
sell targets .1 = 1.20= 1.50
stop loss =0.40
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BZRX has new support at 0.7$ zone and is heading to test the 0.9$ zone, this zone is very strong that can push BZRX down to 0.5$ zone so we need to pay attention to this zone.
If successful, it will keep moving up to 1.4$ zone
-Buy: 0.68-0.72$. SL B
-Buy: 0.88-0.92$ if A. SL B
-Sell 0.88-0.92$. SL A
-Sell 1.37-1.43$. SL A
it breaks the static resistance at daily chart and we can see the pull back on this resistance then in 4h chart it breaks the dynamic resistance and again a pull back .I think we can expect 1.6 price in long term which includes the static resistance ,parallel line and fibo levels.
I would be grateful if you share your ideas with me and my idea.