Structural Resistance| 200 MA| Higher Lows
Hello Traders!
Today’s update will focus on ZRXBTC which has broken the 200 MA, structural resistance still in play
Points to consider,
- ZRX respecting trend line
- Structural resistance to break
- 200 MA support
- RSI resting on support
- Stochastics in lower regions
- Volume below average
ZRX has put in consecutive higher lows in place, respecting the underlying support line. Structural resistance is yet to break; it needs to be confirmed with a retest to avoid a false break.
The 200 Moving Average has been broken and is now tentative support which must hold true for upcoming weeks.
The RSI is neutral, resting on its support whilst the stochastics is currently in the lower regions, can stay trading here for an extended period of time.
Volume nodes are clearly below average, needs to increase upon a bull break of structural resistance for healthy continuation.
Overall, in my opinion, Structural resistance needs to break with a confirmed retest to avoid a false break; this will negate the overall bearish market structure.
What are your thoughts?
Please leave a like and comment,
And remember,
“The mind is a fascinating instrument that can make or break you.”
― yvan Byeajee,
Today’s update will focus on ZRXBTC which has broken the 200 MA, structural resistance still in play
Points to consider,
- ZRX respecting trend line
- Structural resistance to break
- 200 MA support
- RSI resting on support
- Stochastics in lower regions
- Volume below average
ZRX has put in consecutive higher lows in place, respecting the underlying support line. Structural resistance is yet to break; it needs to be confirmed with a retest to avoid a false break.
The 200 Moving Average has been broken and is now tentative support which must hold true for upcoming weeks.
The RSI is neutral, resting on its support whilst the stochastics is currently in the lower regions, can stay trading here for an extended period of time.
Volume nodes are clearly below average, needs to increase upon a bull break of structural resistance for healthy continuation.
Overall, in my opinion, Structural resistance needs to break with a confirmed retest to avoid a false break; this will negate the overall bearish market structure.
What are your thoughts?
Please leave a like and comment,
And remember,
“The mind is a fascinating instrument that can make or break you.”
― yvan Byeajee,
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