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ZRXBTC trade ideas

Huge volume spike on zrx takes priceaction over neckline of ih&sI assume the hype about zrx soon coming to coinbase is the big culprit for why zrx has seen such a massive spike in bull volume that has brought it well above the neckline of its inverted head and shoulder pattern. However to trigger the breakout I think we will need the current 1 day candle to also close above the neckline...if so you can likely expect the price action to reach the green target posted here on the 1 day chart. A fakeout is still a potential possibility so tread carefully.
Long
by DrDovetail
$ZRX Price Analysis: Coinbase EditionFor those that were fortunate enough to read the exclusive news release attesting to the fact that Coinbase has officially added $ZRX into its API, you’ll probably be anticipating a price analysis on what’s going on. "Is it going to pump from here?" "Are the gains already priced in for $ZRX at this point?" "What is the maximum R/R for this trade if I enter into a long position from where I am currently?" These are all great questions that will be answered in this idea, so sit tight. $ZRX Price Analysis We’re going to start with the daily chart resolution here: As one can see on the chart above, there was a precipitous backslide in the price that started around July 16th, 2018, before eventually being broken toward the end of September (23rd of the month to be precise). The price has been on a mini-uptrend ever since, nothing major. In fact, this most recent bounce is what allowed us to draw the uptrend line that you can currently see on the chart above. Now, since the price data is so ‘fresh’, we’ll go ahead and move in to a smaller time frame, in order to get a better idea of impending price action. Before We Move On, Keep This in Mind We are currently looking at the $ZRX / BTC price pairing. Now, since the price of Bitcoin has been relatively stable over the last month or so, we can look at the Bitcoin and USD charts in an interchangeable fashion on the markets for the most part (**Fun fact: The price of Bitcoin 30 days ago was $6,528 at open, which is less than $60 away from where it is trading currently at the time of writing). However, traders should be aware that the price of Bitcoin could change drastically at some point in the near future. Therefore, traders would be wise to consider strategies that will account for the potential increased volatility of Bitcoin in the near/distant future if they are only looking at the Bitcoin-paired charts like we are today. H4 Time Frame Now, if you’re looking at the chart above and getting a bit confused by the diagonal and horizontal lines, don’t worry. We’re going to simplify this for you. Let’s just look at the horizontal lines for now: In the picture above, the blue boxes represent the points of resistance/support that were visually identified on the chart (we just look at points where the price appears to have consistently failed to break above/below a certain price and draw a horizontal line there to mark these areas). Currently (no surprise), the price of $ZRX is struggling to get above heavy resistance at the 11k sat zone. This has resulted in a slight draw down of the price. Now, on the above chart, the Heikin Ashi bar design is used (to ensure easier viewing of price movement), but in order to get a better idea of price movement, we’re going to switch over to the ‘normal candle’ view. "Why did we just do this?" We did this because the above picture now shows us that the price is back on its way down. What does this mean? Great question. For now, it means that we should/can anticipate a potential re-testing of the resistance point that $ZRX had broken in order to reach the highest overhead resistance that at 11k sats that it failed to break. Re-testing of the Supports/Resistances This is a phenomenon that happens very frequently in trading. You’ll see a price break through a resistance and then the price will stagnate on its run up and then eventually return to that resistance to test it as a point of support. Conversely, a price may break below a support point, and after a period of heavy selling, will gravitate back toward that support point to test it as a resistance before continuing further. Above we can see the most likely price action for $ZRX on the H4 if it is to adhere to this principle. We’re switching back to the Heikin Ashi now Next Point of Resistance Okay, so let’s assume there is a re-test of that lower support point (10k sats), and then the price is able to successfully bounce from there and continue upward to the 11k sat point that its struggling to break now… Where would be the next point of resistance? The chart above is telling us 12.6k sats (based on analyzing the chart data itself; not via indicators). Thus, the following stream of graphs that you see below could represent the impending price movement. 1. The price could decline up to 8.22% as it re-tests the former resistance point as a support. 2. This could then be followed by a +14.41% increase. From there, there may be another 6.51% nod, totaling a 21.29% bounce (assuming that the price does touch all the way down to that lower support). RSI(14) for $ZRX The RSI(14) on the H4 for $ZRX corroborates our assumptions as well. While the RSI(14) is a relatively sensitive instrument (more so than people realize or account for), it still can give us fairly accurate readings when it comes to analyzing future price movement. In the chart above, the downward point of the RSI(14) is not necessarily factored into our considerations (just yet), because the period is not currently over; thus, the price information could change and render an entirely different reading in a couple of hours. However, what we can confirm is the fact that the RSI(14) is reading that the crypto is grossly overbought at this point. And all of that momentum did not come solely from the Coinbase news. $0X was already outperforming several coins in the market before the advent of said news. RSI BoP Indicator for $ZRX (Custom Indicator) This indicator (which is custom) is showing that the buy pressure on $ZRX has reached an extreme over the last few periods, which amount to 32 hours when you do the math (8 periods of the indicator tracking ‘extreme’; denoted by the red coloration of the line). It now appears that the incidence of selling has finally picked up. Brief Look at the 10 Min Chart Now, take the readings here with a grain of salt, because, by the time you’re reading this portion of the article it is more than likely that the price of $ZRX may be wholly different from that point or reflect alternative information… But it appears from can be seen now that the 11k region specifically is holding itself as a solid point of support. Now, of course, exuberance could hit investors once the news of the likely Coinbase addition becomes really widespread, which would result in that 6% increase first before a drawdown back to 11k and perhaps even further to the lower 10k sat range. Conclusion On a fundamental level, a potential Coinbase addition is huge (if this is something that does happen). And, regardless of whether it does or not, the more important thing to analyze here in terms of market movement is whether or not the market believes that it is going to happen. If the market does believe that it is going to happen, then it is as good as done. However, if the market does not believe that it is going to happen, then the price action for $ZRX will more than likely bottom out sooner or later and continue downward precipitously. But we do not anticipate this to be the case. Coinbase noted before that they were strongly considering adding ERC20 token support to their platform and signaled as much with the addition of $ETC (Ethereum Classic) before moving on to post that they will be advocating the support of other ERC20 tokens as well. We have no R/R on this trade, because we feel that it would be best if traders waited until the downturn of this move finishes out before moving back upward. However, we do feel that 12.5k sats is a safe bet for the price in the near term.
by librehash
ProjectOx ZRX 80% Profits Profits Opportunity As our team repeatedly tried to tell about project OX, to be honest and logical it is one of the most potential alt coins in the crypto market arena. Recently the well know market strategiest and trader Teeka Tawari noted about this project in its recent Palm beach Conf. report. He wrote : "What Makes Project 0x Special? As mentioned above, current decentralized exchanges are slow and expensive. The reason is because every time you adjust the price of an order, it has to be written to the blockchain. So in the case of a DEX that operates on the Ethereum network, you’d have to wait 15 seconds for the blockchain to “see” your order. On top of that, you have to pay a network fee every time you make an order change. This makes using DEXs slow and expensive. Project 0x fixes this problem. The 0x protocol collects order data and relays it (along with changes) off the blockchain. Orders only get written to the blockchain when trades are settled. This dramatically speeds up the trade process and eliminates needless transaction fees. In addition to being slow and expensive, DEXs are illiquid because they can’t communicate with one another. In our opinion, this is the real breakthrough and “special sauce” behind Project 0x’s solution. Project 0x allows any exchange using its protocol to pool its orders with any other exchange utilizing the 0x protocol. This increased interoperability will lead to much more liquidity." True true the next coming up great ideas will be decenterlized market places which will have so many answers to so many parties on the way. Project Ox is one of them and the leading one. While the fundamental analysis showed us some aspects of its long term potential growth the technical analysis is also showing a good opportunity of investing in for both short and long term positions. A falling wedge triangular pattern is already broken last weekend and is developing an upward elliott wave pattern. RSI looking good at around 60 and MACD looking bullish too. If volume can push some more and bulls can hold stronger most probably a 5 wave impulsive elliott pattern must occur. Here are the major resistance levels for our distribution phase. Accumulation Zone : 9500 sats - 10500 sats Distribution Targets : Target 1 : 11658 sats Target 2 : 12989 sats Target 3 : 14320 sats Target 4 : 16215 sats Target 5 : 18629 sats Stop Loss : 7300 sats Good Luck. Legal disclaimer: Information on this channel is our team's analyst's "opinion" based on data available at this point in time. These opinions are not recommendations to buy or sell securities/commodities and cryptocurrencies. Trading and investing is a risk and you should not rely on this data to make any financial decisions. You must consult a financial advisory licensed by regulatory agencies in your legal jurisdiction. All information stated here and in our reports don't guarantee any possible profits or losses. Please do consider to do your own due diligence and research when making any kind of a transaction with financial implications. For further questions, feedbacks, suggestions and encouragments you can inbox us here in our trading view account. With Regards. Team TWA.
Long
by cryptotalk_et
$ZRX Whale Dump Idea!My first thought that recent up is a dead cat bounce. With 1 billion right now ZRX sitting #26 at coinmarketcap. Quite volatile which is good for traders than holders, ey! Here are my 2 cents. 1. By the price action we see that two support boxes that i draw is quite good for retracement place. Following my Elliot Wave that would be perfect for an accumulation right there. To have a reversal, it must be break my yellow trend line with quite good momentum, if BTC price is sideway or even down ward, don't ever expect that before the time coming. 2. RSI level continuing made HL and always get rejected which makes this idea is even stronger. Above all ZRX is good project and you should not doubt it for now, but for the price, let the market decide.
Short
by blockchaindedi
2
ZRX - Getting ready for more upside! ZRX has bounced nicely since hitting a short-term bottom at 7300 and it trying to test the highs above. ZRX does have a possible upcoming catalyst with a Coinbase listing and with yesterdays news of Coinbase allowing more coins to request listings, ZRX has turned very bullish and could be set for more gains if Bitcoin can get above this resistance level. RSI still has room to move up before hitting resistance so we can get one more test of resistance before moving down. MACD histo has turned positive and signal lines are flat above median so far. Would be smart to wait for some type of move before entering a position because we are currently in a no-trade zone. Thanks guys!
Long
by CM_Trades