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ZRX.USD approaching 1st possible Support: 0x Retrace Watch 1

2 599
Quick post to observe price action around a probable support zone.
What happens here will be telling of strength of the downward wave.
I expect a significant bounce here, if not we go much much deeper.

This is a follow up to my previous Warning of a Top (click).
Catatan
Here we are, with a kiss of the top boundary of our support zone cuplikan

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Catatan
So we got a decent bounce off the bottom boundary of support cuplikan Immediate resistance now is 27.5 cents, with a tight confluence of several fibs.

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Catatan
Bounce looking pretty good so far, has a clear Fib rhythm to it cuplikan and points to a clear resistance coming, at 0.2818xxx
Lets see if we get there (I think we will), and the reaction there (rejection or pierce).

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Catatan
Noticeable reaction at the blue 2.618 cuplikan ie: Fib still confirming, and the 3.618 still looks like a good target.

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Catatan
Almost there, watching closely cuplikan

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Catatan
Pierced that first resistance with authority. cuplikan Next is a Cluster of fibs, covering a pretty wide price range. Expecting it will take a few tries to work through that zone.

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Catatan
ZRX showing its fellow alts how to walk up a fib stair case cuplikan

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Catatan
Retraced to the Blue 2.236 cuplikan It "should" bounce here if bull wave is to continue.

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Catatan
Pulling back prertty hard now, but approaching the 1.618, which should offer some support cuplikan

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Catatan
Uh Oh, this rejection off the 2.236 is not a good sign, cuplikan the 1.618 really needs to hold now.

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Catatan
New fib of second bounce cuplikan but the rejections from subsequently lower fibs is not a good sign full bulls.
Need to push past Band 3 above, asap.

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Catatan
Support still holding, and the bounces off subsequently higher fibs is a good sign cuplikan but bulls are having a tough time gaining momentum.
Currently painting a Triangle or "Pennant". I guess patter traders would expect a continuation downward from this triangle, but let see.

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Catatan
Heads up: we are approaching possible Wave End points cuplikan

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Catatan
ZRX just keeps on going, especially after a clean retest of resistance cuplikan Looks like we might nearing a top but let see

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FibonacciSupport and Resistance

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FibonacciSupport and Resistance
EuroMotif
Mod
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
Juga di:

Publikasi terkait

Pernyataan Penyangkalan

Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.