ZRXBTC Bull pennant forming on 1 day chart, Possible scenarios.
Hi Guys,
Ox protocol(ZRX) have performed very well from last two months currently it's been in a pause mode and looking for the breakout again to form wave 3. If we see on the 1-Day chart it's forming the bull pennant which is going to break out soon. There is a little bit chance that it will go in the opposite direction because the crypto market is very uncertain right now. If you are going to enter in the long position, you can sell it if it goes below the lower line of the triangle which will cause you around 5-10% loss. Generally, the Wave 3 is an approx 1.5-1.618 time the first wave so according to that, we will be at around 40000 satoshi in coming 2-3 months. The profit is around 140% on 10% risk, with the minimum risk-reward ratio.
This is not a financial advice you are your own, I am only providing facts here.
Will be happy to hear your thoughts, feel free to comment.
Ox protocol(ZRX) have performed very well from last two months currently it's been in a pause mode and looking for the breakout again to form wave 3. If we see on the 1-Day chart it's forming the bull pennant which is going to break out soon. There is a little bit chance that it will go in the opposite direction because the crypto market is very uncertain right now. If you are going to enter in the long position, you can sell it if it goes below the lower line of the triangle which will cause you around 5-10% loss. Generally, the Wave 3 is an approx 1.5-1.618 time the first wave so according to that, we will be at around 40000 satoshi in coming 2-3 months. The profit is around 140% on 10% risk, with the minimum risk-reward ratio.
This is not a financial advice you are your own, I am only providing facts here.
Will be happy to hear your thoughts, feel free to comment.