After seemingly breaking the trend line(fake breakout because of the coinbase listing) and activating a bull run we see a further downfall and meeting resistance at the original trend line.I expect one or 2 bull traps during this correction, max 5-10%.After it completes correction, the sky is the limit, massive potential for this project.
Not trading advice, just sharing what makes sense to me.
Not trading advice, just sharing what makes sense to me.
Comment:
10.8-11,2 is a previous strong demand zone. But after 3 4H red candles with increasing volume and no significant pullback to counter, it seems to be a vacant demand zone. Keep track of its movements, perhaps buy in with a very tight stop loss, but overall I remain skeptical and expect further lows.
Comment:
We are approaching the target zones way faster than expected. I would wait to see if the momentum will stop or go the other way first at 9,8. If it stops or turns around buy-in with a tight stop loss.If it passes through, buy 9,3 with a tight stop loss, since there could be a flash drop to 8,8 that would form the wick below the trend line.If it hits 8,8, it would be majorly oversold and on its way to the moon, so any sign of reversal at that point is a good buy.
Comment:
Hope you got in position well below 9,3k. Please bear in mind big boy BTC is doing big moves, has breached support level very hard and a drop to 4,9k or even 3k is possible, in which case ZRX is highly likely to follow and reach its original downtrend line hitting about 6,2k. So set stop losses, trade safely and watch out for BTC.
Comment:
Unfortunately, It seems that huge dips are coming. I Have exited ZRX at 9k. Waiting for either 6,2k or a very clear general trend reversal in all crypto before re-entering.
In the meantime, XRP seems like a good coin to follow during these dips, it seems to have a mind of its own and bitcoin does not bother it.
In the meantime, XRP seems like a good coin to follow during these dips, it seems to have a mind of its own and bitcoin does not bother it.