could break out if it has the power, but if not, the only way is sideways and down. And if we go down, expect another lower low... which could even mean below 3k.. technically speaking.
other option is more consolidation here.
I think after it hits .22 it will print a bull div and bounce for a while.
Target found by checking the height of the triangle and pasting it below it.
Please note we need confirmation first, which can be breakdown of triangle with high volumen, or breakdown first and then retest up.
hidden bullish divs on macd and rsi
volume is not that good on the bounce tho, but if price keeps rising, could mean volume coming in slowly.
green trendline held support at .27
next support at .26
could be corrective move of market wide bear move towards market bottom (long-term swing).
fib retracement to indicate bounce/reversal areas; on...
see chart.. some education for myself
- price action (near resistance)
- candle pattern (wicks, and decreasing length)
- volume (decreasing, not representing price growth)
- divergence macd and rsi (lower highs, while price made higher high)
touched resistance at .31
bear div on macd and rsi
maybe retest new support at .29, or it will bounce before that.
if market goes up, zrx has a lot of upside potential after a short term dip possibility
could be cup and handle with breakout if whole market goes up,
OR it's at resistance line, can drop back to support.
Day-trade setup; posting only for tracking. Don't do this without own ta!
my entry 32 ; sl 32.5 ; tp 31.5 - .31 - .30/29 if dump may occur this weekend.
Long zhe support from .27 for a bounce trade. Be carefull again for capitulation. Lowest...
Posting for tracking. No Trade.
Resting at support. Could bounce here and try to break ascending trendline. Not so likely, market sentiment not so bullish...
More likely is finding below support area at .305 ; with ascending trendline.
On Break possible short entry could take place.