Hello,
In support of the ZRX analysis I just posted, here is another focusing on what ZRX might do in the next week or so. If you want to know in a little better detail why I am predicting a the price to drop to 0.21 check my bearish engulfing post. But I did want to zoom out a bit to get a better look what ZRX is doing relative to the past month or so.
If the bearish market I imagine is coming happens, we could reach 0.21- a strong support, and possibly retest the upper channel(in white) at 0.28. Then if the bear market is still strong a complete drop to the bottom of the channel around 0.10. I say this because there is not a massive amount of support for the current price movement upward. There is no structure and therefor the only structure is BTC, but as I laid out in my other analysis, I think BTC is approaching a bear market as it is in a bear flag and repeatedly rejects upward price movements. So if this is the case, BTC falls, so too will ZRX, far past the point in which the pump that led it up to 0.70 began.
Just a thought though, let me know what you guys think.
Thanks for reading,
- Max K.
In support of the ZRX analysis I just posted, here is another focusing on what ZRX might do in the next week or so. If you want to know in a little better detail why I am predicting a the price to drop to 0.21 check my bearish engulfing post. But I did want to zoom out a bit to get a better look what ZRX is doing relative to the past month or so.
If the bearish market I imagine is coming happens, we could reach 0.21- a strong support, and possibly retest the upper channel(in white) at 0.28. Then if the bear market is still strong a complete drop to the bottom of the channel around 0.10. I say this because there is not a massive amount of support for the current price movement upward. There is no structure and therefor the only structure is BTC, but as I laid out in my other analysis, I think BTC is approaching a bear market as it is in a bear flag and repeatedly rejects upward price movements. So if this is the case, BTC falls, so too will ZRX, far past the point in which the pump that led it up to 0.70 began.
Just a thought though, let me know what you guys think.
Thanks for reading,
- Max K.
