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ZRXUSD H16: 80% gains BEST LEVEL TO BUY(SL/TP)(NEW)
ZRX is within a upward W-X-Y pattern (at least) which waves W and X were completed but Y hasn't been started yet.
So after completing the correction now it's within it, wave Y will be started.
But please care that I think with high probability the correction will be longer than it shows. Thus every upward movement shouldn't be considered as a uptrend.
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ZRX has retraced to the 0.786 Fib level to complete intermediate wave (4). Intermediate wave (2) also corrected to the 0.786 Fib level.
I have found that the 1st, 3rd, and 5th intermediate waves line up often. As such intermediate wave (5) projects ZRX to $7 by October.
After the previous analysis which has been invalidated by BTC retracement we have a new bullish setup, let s recap the analysis:
Rsi- pretty good, arround the middle leaving space for ZRX for growing
MACD - Golden cross forming on 4H chart
3 higher highs follower by 3 higest lows confirming the bullish channel
Fibbonacci - just closed 2 candels above the 0.50...
The ZRX, under the influence of BTC, fell to the strong demand zone around $ 1.2
Orange MA turned out to be an additional support, which previously acted as a strong support and usually a rebound from it heralded a strong upward rebound.
A safe zone guaranteeing increases is a decline of 0.236 from the last high of $ 2.4
Increases around $ 4 and $ 8 are very...