ZRXBTC
$ZRX looks ready for another move upZRX has been on fire as of late with lots of news and rumors surrounding the coin. Decentralized exchanges will be a huge theme in 2018 and beyond. The ability for these exchanges to continue to advance, adopt, and progress has opened the door for them to position themselves as both a centralized & decentralized exchange. Hybrid exchanges will become more and more prevalent as the space grows for security, liquidity, etc.
ZRX has had lots of rumors of being added to Coinbase, as they have mentioned publicly they will be adding support for ERC-20 tokens. This coin is a heavy front runner. Some positive news mixed with a strong market has the potential to send this into orbit!
ZRXBTC , 0x would probably begin a new uptrend. !!0X/BITCOIN
Technical analysis:
0x/Bitcoin is in a range bound and Beginning of up trend is expected.
The price is above the 21-Day WEMA which acts as a dynamic support.
The RSI is at 54.
Trading suggestion:
*The price is in a range bound, but we forecast the uptrend would begin.
*There is possibility of temporary retracement to suggested support zone (0.00005580 to 0.00004730), if so , traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00005580)
Ending of entry zone (0.00004730)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.00007320
TP2= @ 0.00008675
TP3= @ 0.00010600
TP4= @ 0.00013700
TP5= @ 0.00018970
TP6= Free
What to buy after BTC bounce?Here we have a coin that is coping very well with he BTC falling it has enough momentum for lift off, it broke out around a week ago and you can see its now currently consolidating In its channel, it nearly broke out again earlier today but was held back by the BTC.
This coin here will be 1 of the first but also 1 of many that will break out nicely after the BTC finds solid support or gives us a nice reversal bounce.
Be ready for the bounce as once you buy back into BTC, or maybe you already have you will need to get that BTC straight to work and making you some returns. This coin is certainly worth a loo in for that.
ZRX has had gradual volume increases today and you will see the RSI running around 48 on the 4H this is a strong momentum indicator telling us we will break high.
Please view the weekly chart also as we look good along with the daily.
I will be posting one other coin that will also be a good buy shortly.
This coin has been chosen as it will break high according to chart but we will trade this coin, I mentioned on my BTC post earlier alts you want to buy bags of for long holds..... to find these just search coins that are at bottoms from November 2017 or lower then ensure that its a half decent coin with good history and that will be your coin for holding.
Targets are the green dotted lines, the channel of consolidation is between the red and green solid lines.
ZRX this coin is here for us to buy, trade, make cash and SELL.
Cash Is King!
Ox continues to growCoin of the day is Ox.
Ox (ZRX) is one of the hottest digital assets on the market right now. It bounced off 0.00005 low ten days ago, breaking the three-month downtrend. Many traders connect turnaround in the downtrend with the news that Coinbase is adding custody of ERC-20 tokens which could lead to listing the asset on GDAX or even on Coinbase. ZRX connection to Olaf Carlson-Wee, who now leads the PolyChain Capital which has a big investment in Ox also plays a positive role.
ZRXBTC already broke above the 0.000065 level, turning it into support. The next target is 100-days EMA, which coincides with the 0.000085 resistance level. The price already tested resistance but returned forming a Triangle Pattern. From the below: 0.000065, 0.0000725 and 0.0000750 will play a supportive role. The triangle formation will run out soon, and the price will test resistance level again. Breakthrough of 100-days EMA will lead the price upwards to the 0.0001 psychological resistance.
ZRXBTC TRADE SETUPFollowing the article on correlation, I present ZRXBTC for a long trade and practical example of the importance of 18/03/2018.
As we see, a cycle ended at 27/01/2018 high in a 5 waves up (RSI divergence in 4H and daily timeframe), so according to EW, this is calling for another 5 waves up. All cycles identified by vertical lines ends very precisely at 100% extension of the first leg of the cycle (all corrective in nature, despite the amplitude of each cycle), and at 0.00004819, we reached convergence of 3 major cycle ending and last one being truncated at 61.8%-78.4% which is quite common.
On 19/03/2018, those cycles ended and the highest degree as shown here with RSI breaking up its downtrend line.
So from here, I propose buying 0x token against BTC from this level and lower if reached with stop below the 19/03/2018 low and target 0.00226-0.000268
Ox found a bottom and is going up rapidlyCoin of the day is Ox.
As it says in the whitepaper: “Ox is an open protocol for decentralized exchange on the Ethereum blockchain.”
The 0x team are working on a protocol using Ethereum smart contracts, that will help anyone in the world to operate a decentralized exchange.
Briefly, Ox is a technology developed to provide an improved exchange of Etherum tokens.
The team believes that there will be thousands of Ethereum tokens in the future and there will be a need to trustlessly and efficiently exchange them. This token could play an important role in the future of the crypto technologies and Ethereum infrastructure.
In March 2017, the protocol closed a huge round of financing, which was headed by Polychain Capital.
After peaking at the beginning of 2018, ZRXBTC was lowering due to the recession across the cryptocurrency markets and especially because of decline in the ETH price.
Recently the coin started to draw a reversal pattern on the 0.00005 level. The growth potential is big, as only three months ago the price was at the 0.0002 high.
If the price will be able to hold above the 0.000065 level and the Bullish Trend Line that would be a bullish sign. The next target, in this case, will be the 0.000086 level, which is close to the 100-days EMA.
RSI + MACD breakdownRelative strength index is a great indicator that allows us to see whether a stock is becoming over bought or over sold.
RSI has a range from 0 to 100 and uses momentum to compare significant gains and losses of a stock.
A pair will become overbought when RSI is above 70 and over sold when the RSI is below 20.
Typically you don't want to buy into a stock that is over bought or above 70 RSI, however with strong volume and momentum over bought stocks can also have large range moves.
A great entry can be provided when a stock breaks out and is pushed to an over bought level above 70 and after the stock pulls back and the RSI has cooled off and gotten back under its overbought level or under 70.
Entering on an RSI cool off and pull back can give a great risk vs reward entry and usually will have a tight range.
The opposite is true with short selling and stocks that are over sold or below 20 on the RSI scale.
False signals to buy or sell can be formed when stocks have large spikes in price and like all technical indicators your trade plan should not solely be based on RSI.
we must be patient before we enter our trades, because sometimes the RSI can stay oversold for quite awhile.
The worst thing we can do is try to pick the bottom of a strong move that continues to move into further oversold territory.
So we must wait until the RSI crosses back above 30.
Crossovers and Kisses Using the Signal Line and the MACD Histogram
The Signal Line is used to generate trading signals. Being an exponential moving average of the MACD Line,
the Signal Line will lag the MACD. However, when the MACD line begins to move back towards the Signal Line
then we begin to get some trading signals such as a Crossover or a Kiss.
When the MACD Line crosses over the lagging Signal Line this is indication of a reversal. However, if the two
lines just come together and “kiss” before moving back in the same direction, this can also be a powerful
continuation signal
*DISCLAIMER*:
I am not a financial advisor nor am I giving financial advice.
I am sharing my biased opinion based on speculation.
You should not take my opinion as financial advice.
You should always do your research before making any investment.
You should also understand the risks of investing. This is all speculative based investing.
$ZRX Where is that bounce gonna come?Seems as if this falling wedge is approaching an old support line that was used as a trampoline for the first bounce.
This project being 66% off the ATH is quite interesting because only the price has changed. Not the project.
DYOR, and GL out there, its been rough.