Long

ZRX is ALMOST READY! (For real this time, lol)

Updated

I've been keeping an eye on ZRX ever since I prematurely posted not long ago that ZRX was near bottom.
Currently, the 6h RSI has been finding support on the DAILY RSI resistance.
It is also holding 40, which is arguably where bulls begin to take control.
Daily is showing bullish divergence for the 2nd time now.
Daily RSI is also finally showing an oversold rejection.
Price is beginning to show bearish pressure significantly declining.
A high volume inverted bearish hammer in a significant downtrend is usually a signal of a pending trend reversal.

I just bought a load of ZRX on Coinbase via USD, and the chart for ZRXUSD is a much much different story to ZRXBTC:

Get ready, because when ZRX moves it's going to move big!
Good luck :)

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Long term targets:

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Midterm bearish targets:

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There is also this level. Considering red has never been tested, I suspect this will likely be where ZRX reverses if it is not yet beginning to already.

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This is an absolutely gorgeous bullish wedge.
If this fails I will be awful sad, cause damn is this perfect :o

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1D Candlesticks so far are showing a potential reversal signal.
Huge inverted bearish hammer followed by a spinning top doji. Both of these candles coming during a harsh downtrend, with significant multi-month MACD divergence as well as STRONG bullish divergence in the daily since the beginning of February.

6h shows a possible weak breakout of the bullish wedge along with a re-test for support.
RSI is showing significant bullish divergence in the RSI.
40 RSI has been holding steadily for the past 6 days.
6H RSI is also finding support on the daily resistance.

It is of my opinion that this should start a bounce in ZRX at the very least, unless Bitcoin has a bad next few weeks.

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The more I look at this and adjust the wedge, the more I believe this is the correct version of it. That said, 5,800 looks to be reversal at this point.

We're close.

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Interesting update. Not long after I posted this chart, this happened

When ZRX can actually break this wedge with force....oh man

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At the moment, ZRX is challenging my secondary resistance, and it is STRONG.
A fat amount of volume here and ZRX could go very, very high.
I'm probably too early, but I'm documenting this anyway to look at later.

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Man is this an incredibly good looking chart or what?
ZRXUSD on Coinbase is showing a very different story from the ZRXBTC charts.
Higher highs and higher lows for 20 days now.

Like I said, I still think I'm too early, but the market is in the middle of fear or FOMO right now, so we'll see.

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Good God this is so beautiful. A nice rejection at the midline of the ascending channel.
Things are looking good for a short-term reversal but BTC has to play along.
We'll see how this develops.

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Challenging the 50 MA on the 12h.
RSI is at extreme resistance. Can it break? :o

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Well that's always nice.

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I just realized something.
Coinbase's weekly chart for ZRX saw this coming a MILE AWAY.

Those hammers :o

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Well, earlier I thought the 12H RSI + 50 MA were gonna be a problem.

ZRX is on the verge of breaking the 9 on the WEEKLY ;o

No way it goes past this right away. If you're following this idea be ready to take profits

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flickr.com/photos/7534498@N04/876241350

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Let's see if this thing can hold the resistance of the ascending channel.
Doubt it, but let's see. If it does, holy moly look out above LUL

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If it doesn't follow these lines, it's gonna pump again.
I see this pattern all over the place.

7,200 breaks and its off to the races again IMO

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And a great reentry here with an easy stop for anyone that is following this idea

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ZRX is re-testing the resistance of my wedge. This also coincides with the 25D MA on the daily. If it can consolidate here and hold for a few days we may be good to go for a real pump.

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So far the buyers are showing conviction and there is no real reason to worry about ZRX going too much farther.
At the moment higher highs are being made in the RSI along with higher lows, insinuating buyers are beginning to take control. Considering how oversold this asset is it could play around near oversold/40 levels for another few weeks yet before establishing a real uptrend.

I'm eyeing up 5800 or 5200 as a final destination for a bottom. It's clear to me accumulation is in progress.

I bought in a little early but I plan on holding my ZRX for quite a few months, and I will DCA a large chunk around 5200 if we get that far.

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Bear pennant forming on the daily.
This pennant has a very large flagpole due to the recent pump and dump ZRX experienced.
If this pennant completes, the target for it is around 5k-5200 sats, which would be in line with my estimated area of reversal.

The red line is what I've been watching the past few weeks because if it breaks there could be significantly more downside to come before ZRX bounces.

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As predicted, ZRX is breaking down at the moment via a broken bull trendline.

The daily RSI continues to establish bullish divergence. Problem is, we are dangerously close to grinding through support.

So far, the weekly is confirming that we have more room to fall.
The RSI has yet to dip into oversold, and the candle itself for price is bearish engulfing at the moment. There are still 4 days to go on this candle but so far it looks like the bears are winning.
MACD continues to converge though, which is interesting.

On ZRXUSD at Coinbase, ZRX has now broken a very major bullish trendline, and seems to be confirming it as resistance. I will be watching this chart very closely and if we confirm the uptrend channel as resistance, I will be selling a good majority of what I have to buy back in lower.

I still strongly suspect there will be one more wave down. Whether it is the last wave or not remains to be seen.
The levels I am looking for to hold are between 4,960 and 5,200.
If these levels break we will likely visit 4k sats.

ZRX has no real news coming out until September, but I suspect there should be at the very least a large bounce coming prior to that event.

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Update:

deactivatedaccount123

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