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ZRXBTC trade ideas

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 is ready for another leg, hold your hatsYOUR LIKE OR COMMENT IS MY FUEL FOR NEXT ANALYSIS :) This is not a financial advice. Always do your own research and always put stoploss in your trade (SL) :) If you want more detailed info how to study and read charts or just need help with some coin, just write to me here a comment, i will try to answer to everybody... i can help you :) all for free, don't worry, BE HAPPY! If u like the analysis, please feel free to ask any question about this TA or crypto or any coin - leave a comment or like or share the idea, i really appreciate it because then my work makes sense :) thanks!
Long
by SvarogPerun
9
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
ZRX/BTC Ichimoku Cloud - Edge-To-Edge Strategy!The ZRX/BTC ichimoku cloud on the daily timeframe is undergoing an edge-to-edge move. This strategy involves price moving into the cloud from below, and closing inside of the cloud. Once this happens, the edge-to-edge idea suggests price will make its way through the cloud to the other end for a 'kumo breakout' above the cloud. Think of the cloud as an area of weak resistance/support. If you threw a rock at a real cloud, the rock would go right through that fluffy thing. Replace 'rock' with 'price' and you get the same idea here.
Long
by cryptochemistry
2
ZRX at an all-time low but hold your horsesZRX has recently set a new all-time low against Bitcoin. Last time this happened in September 2019 after months of sales against Bitcoin, which back then just ended a short-lived bull run. Soon after that low, ZRX bounced up by +40% a week. So now many traders are curious if this setup would happen again. We’ve asked the following question on the Cindicator platform: The cryptocurrency 0x (ZRX/BTC) settled at 0.00001298 BTC at 10:25 AM UTC at the binance exchange on Monday, January 11. In your opinion, will ZRX/BTC trade above 0.00001623 BTC (+25.0%) at any time before January 25? Hybrid Intelligence (148,000+ analysts +AI) voted, producing this result: 48.58% This means uncertainty is very high. There is about a 50% chance of ZRX going up +25% against BTC over next week. Of course, there is the same chance of this NOT happening… It’s best to avoid entering positions now and keep watching what BTC will do: a continued sell-off might drag ZRX even lower.
by Cindicator
4