ZRX Ready For A New Cycle
Welcome Back!
Who is ready for another altcoin ready to start popping off?
Today we will be discussing ZRX because this is one that's painting a perfect market cycle.
There are a couple key factors I look for when accumulating a market cycle.. I want to see new money entering the market indicated by volume, along with a breakout of the previous down trending resistance indicated by the last cycle, lastly, I want to see price at a cheap level where demand exists. ZRX has fulfilled all my indicators for buying a market cycle.
In this chart I have drawn my demand zone for accumulation. I don't find it likely that we break below the most recent low we created before the breakout of major descending resistance. With prices already showing accumulation in the rounded bottom, I find this scenario unlikely.
This coin was listed to coinbase a few months back which is when we saw the massive breakout in volume. Remember, noobs love to fomo into pumping coins. What do you expect to happen when they find a coin on Coinbase thats less than a dollar? Coinbase listing are a pretty solid backing with the average retail investor..
I started accumulating this at about 0.25 and will be looking to add to my bags the lower we retrace.
Who is ready for another altcoin ready to start popping off?
Today we will be discussing ZRX because this is one that's painting a perfect market cycle.
There are a couple key factors I look for when accumulating a market cycle.. I want to see new money entering the market indicated by volume, along with a breakout of the previous down trending resistance indicated by the last cycle, lastly, I want to see price at a cheap level where demand exists. ZRX has fulfilled all my indicators for buying a market cycle.
In this chart I have drawn my demand zone for accumulation. I don't find it likely that we break below the most recent low we created before the breakout of major descending resistance. With prices already showing accumulation in the rounded bottom, I find this scenario unlikely.
This coin was listed to coinbase a few months back which is when we saw the massive breakout in volume. Remember, noobs love to fomo into pumping coins. What do you expect to happen when they find a coin on Coinbase thats less than a dollar? Coinbase listing are a pretty solid backing with the average retail investor..
I started accumulating this at about 0.25 and will be looking to add to my bags the lower we retrace.
Catatan
Catatan
ZRX looks to be forming an Inverse Head and Shoulder on the daily.I mentioned in my post how I would be accumulating the lower we retrace and now is that time. $0.27 was my target for entry and we have now hit that with price consolidating inside this descending channel. I am watching for support to hold basically where we are at for a breakout of this resistance
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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.