💎Technical Analysis Summary💎
-After the strong rejection at the 0.96$ resistance area
-The price fell back to its key support area
-This is an important key level since April 2019
-Is this a good buying opportunity?
-Answer is No, why? because it is coming from a strong rejection
-And this short consolidation range might be a Bear flag
0x - Intraday - We look to Sell
Price continues to trade within the triangle formation.
The RSI is trending lower.
Short term MACD is moving lower. 50-hour EMA is at 0.379.
The bias is to break to the downside.
Our profit targets will be 0.343 and 0.336
Resistance: 0.380 / 0.388 / 0.396
Support: 0.370 / 0.360 / 0.340
ZRX is at strong support from last accumulation phase. Rsi bounces consistently of the trendline. If we hold support it is time to accumulate or possibly long ZRX. Watch bitcoins price action closely. ZRX had a nice ABC Elliot Wave correction and is holding last accumulation phase tops as support. If we break this support level, look for a short entry. Things can...
ZRX, buddy, you're making me look bad.
We see on the chart we may have broken through previous bottom trendline dating back to march lows.
Currently we're seeing a period of price consolidation. Higher lows since the last retest of Key support.
Hesitant to call it because I've been waiting on this sucker to come back since it went down, but looks like we're...
i can recommend this setup for ZRX long:
ENTRY: between 0.3750 - 0.3820
don't enter with high leverage..i will enter with 10x-15x maybe
higher leverage means -> possible liquidity so trust me..
0x - Short term - We look to Buy
Offers ample risk/reward to buy at the market.
A higher correction is expected.
We look to buy dips.
We are trading at oversold extremes.
Price action looks to be forming a bottom.
RSI looks to be forming a bottom.
Resistance: 0.3500 / 0.3650 / 0.3800
Support: 0.3400 / 0.3360 / 0.3300
ZRX has recently seen a positive breakout. This was a breakout of a descending wedge with a positive pre-trend, as shown below.
The descending wedge which ZRX has broken out from has numerous points of contact. During this wedge ZRX had fallen from $0.8 USD towards $0.35 USD.
Below are the recent EWs for ZRX. The recent breakout appears to be a...