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Zrx

The reason we closed ZRX and few other Altcoin positionsDisclaimer I have to warn you that we highly recommend not taking a new long trade on ZRX. Before you place a new order, make sure your trading decision is in line with your strategy and risk management. The order described in this post was placed over a month ago and is already closed with profit. Reason to Buy Late December and early January were a really hot time for the cryptocurrency market. Many retail traders were afraid of missing the opportunity to make money on the bullish movement and were ready to buy at any price. That led to high BTC dominance rates, around 74%. The market price of ZRX was 0.0000118, which is the lowest price point it has ever been at. After we bought ZRX, the entry-level was tested one more time. It gave us a little more confidence that we will not go below the level where we opened our long positions. As practice shows, sometimes especially strong growth of Altcoins coincides with BTC consolidation. This time, the most significant growth of ZRX came on 4-5 February. That was just after BTC spent more than a week in consolidation and then strongly fixed above the $33k level. The connection between Altcoin's growth and the patterns on the BTC chart is not always obvious. That's why your trading decisions regarding low-cap Altcoins should take into account more fundamental parameters. Reason to Sell As for our long ZRX position, it was closed in the middle of February. This decision was made because of four factors 1) We saw that the price could not reach the very strong resistance level at 0.000062 2) We saw the next day's candle close 36% lower than the previous day's high. In total, our total profit from this trade was just over 216%. 3) The price failed to fix above the level of 0.0000417 on the chart, which we defined as a local resistance level. 4) Strong BTC corrections of 10-20% could have happened at any time, this is an ordinary correction for BTC. In that case, ZRX could exceed this correction many times over. We understand that the position could bring more profits since it was not closed at the top of this movement, but we are quite happy with the result because it was purely a speculative idea. At the moment we think that opening a new long position in ZRX is unreasonably risky.
by pennygene
ZRX (Ox Protocol)- Lesson's for new entrants. 2x here.Dear Trade Diary, Made a nice 3x on a modest position in ZRX getting in 1/30 and out 2/8. Nothing to write home about. However in retrospect, having investigated the use case for this protocol and its full chart life, i'd have stayed in. So, i'm back in. Long position this morning at $1.42. Will dollar cost average into this position all the way to $1.25 (if it comes to that). what i mean by investigating the full chart life is this (IMPORTANT LESSON): There are a dozen charts for just about every trading pair in crypto. One for each exchange platform. The KEY is to understand that the chart 'life' of a trading pair only begins on the day which that particular exchange 'lists' the pair for trading. I know there are going to be plenty of people saying 'duh' here. And i'd probably be one of them most of the time. But when you are looking for entry and exit points in the newer defi projects (Ox isn't that new i know), its hard to remember to confirm all data. Suffice to say i had enough data to know i wanted to enter ZRX at $0.50 cents. And it wasn't until a few days after I closed my position at $1.50 that i realized the ATH for this protocol is $2.50 and its prior local ATH is right around $1.80. This bigger narrative is why i am back in ZRX. It's going to play around in the $1.20 to $1.50 area for another few days, but this is what it has going for it: 1. weathered this recent storm, 2. maintained its price for 5 days after a steep/recent (3x) run 3. still priced at half of its prior ATH when its peers have already broken through. 4. A central and irrplaceable oracle for the largest defi trading platforms. The above makes this a strong buy for a 1-2 week 2x from here. I'm putting 5% of my portfolio here. Why not more? Well it has nothing to do with uncertainty that is for sure. Its just my bags are soooo damn packed for the next shuttle launch that i'd have to sell my children to take a bigger position. There's got to be an .io for that lol. Ox is to defi (for the time being) what LINK is to ETH. Admittedly there is alot more competition in the defi space and there are some defi platforms running other protocols. But half of all defi liquidity pools are using Ox and defi continues to smash new records everyday in terms of locked crypto. All that equals value IMHO. Even if 'value' is really hard to determine in a decentralized opensource protocol, the staking returns will only continue to rise as more crypto entrants harness their full buying power. This is not advice. Not an expert. Just putting my thoughts in writing for personal reference material. McG
COINBASE:ZRXUSDLong
by McGorgeous
1
ZRX A Shark move | Upto 1000% rally expectedHi dear patrons, hope you are well and welcome to the new update on Ox (ZRX) token. In 2019 I posted that the price action of ZRX completed a very big bullishg reversal Shark move on monthly chart. At that time the price action was likey to bounce from the support of a triangle therefore I suggested to by at 0.886 Fib level however the priceline completed the Shark and moved between 0.886 to 1.13 Fib level. And the price action rallied. In the US Dollar market I posted this butterfly move that produced more than 1000% sofar. But on the long-term monthly time period chart, the price action of the ZRX with Bitcoin pair was still moving in the potential reversal zone of Shark . The price action cannot enter in the negative zone, therefore I have placed the Fibonacci pattern up to 1.13 Fib level only for the educational purpose, however the price line has found the last support at 0.00001465 btc. This trade has a huge profit possibility of 1050%, and the loss possibility is only 55.5%. Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Long
by moon333
2