I try to keep my charts simple, but with all the volatility going on right now, I wanted to draw out a few outcomes for ZRX.
Thick black lines indicate future possibilities for support and resistance. Not extremely important for intra-day trades, but still good to know where those major points are at.
A break above the green trend line will indicate a likely breakout toward $1.90. I'm optimistic and bullish on ZRX, so I think it will go higher, especially with the performance it's been having lately. A break below the red support line will indicate a break downwards in which it could be headed toward the major trend line (this does not mean it will be bearish). I have this on the 1h chart so we can watch it closely and wait for that breakout moment.
Thick black lines indicate future possibilities for support and resistance. Not extremely important for intra-day trades, but still good to know where those major points are at.
A break above the green trend line will indicate a likely breakout toward $1.90. I'm optimistic and bullish on ZRX, so I think it will go higher, especially with the performance it's been having lately. A break below the red support line will indicate a break downwards in which it could be headed toward the major trend line (this does not mean it will be bearish). I have this on the 1h chart so we can watch it closely and wait for that breakout moment.
Comment:
Played out precisely as predicted.