ZRX cypher setup
We have long opportunity once we break ~1.7687$
I'm expecting that we break above B and then test the red supply line.
Once 1.7687 becomes new support level we should go higher and break supply line all the way to 0.786 or 0.886 Fibonacci ratios D point at PCZ ~1.9369$ or ~1.9957$.
Entry: Break B ~1.7687$, back test it as support.
TP1: 0.786 - ~1.936$
TP2: 0.886 - ~1.995$
Stop loss:
Should below close of B ~1.74.
Depending on market conditions and what BTC is doing we could go higher above 2 Fibonacci ratio all the way to 2.618 at ~2.15$.
Will update idea if we get their.
We should look for market exhaustion at PCZ ~1.9957 where a short opportunity could present itself.
I'm expecting that we break above B and then test the red supply line.
Once 1.7687 becomes new support level we should go higher and break supply line all the way to 0.786 or 0.886 Fibonacci ratios D point at PCZ ~1.9369$ or ~1.9957$.
Entry: Break B ~1.7687$, back test it as support.
TP1: 0.786 - ~1.936$
TP2: 0.886 - ~1.995$
Stop loss:
Should below close of B ~1.74.
Depending on market conditions and what BTC is doing we could go higher above 2 Fibonacci ratio all the way to 2.618 at ~2.15$.
Will update idea if we get their.
We should look for market exhaustion at PCZ ~1.9957 where a short opportunity could present itself.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.