ZRXUSD About to break its Bear Cycle. Potential target $6.000x (ZRXUSD) made an impressive price jump yesterday after making contact and rebounding on the 1D MA50 (blue trend-line). This chart is on the 1D time-frame but the RSI below is on the 1W while also the 1W MA50 (red trend-line) is displayed.
As show, the Bear Cycle since the April 10 2021 High has been dictated by a Lower Highs trend-line. Right now the price is close to making contact with that level for the first time since October 31 2021. This is a similar pattern with that of April 2019 - February 2020. Excluding the Black Swan event of the COVID market crash in March 2020, when the price broke above the Lower Highs, the market gave a confirmed signal of a new rally.
Notice how the third Bullish Cross between the 1D MA50 and the 1W MA50 gave a confirmed signal. On the current Cycle, if those two cross again, it will also be the third time. Technically the last confirmation will come when ZRX breaks above the Resistance Zone, which is made of the last Lower High. A rally towards the 2.0 Fibonacci extension would be the technical target.
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0xsignals
$ZRX 0x Long Idea- Low Time Frames (LTF) have healthy volume coming in, which is what I wanted to see at this level.
- Looks like a C&H is forming on 1D chart
- It had its pump several weeks ago and since then has cooled off, I think it's ready to make its move back up & reclaim
Trade invalidated if we close below the 2800 support. I anticipate BTC will go sideways for awhile allowing alts to breathe/pump. No, I don't think it will be like 2017 Alt Season, but, we should have some fun.
Follow me on twitter for other set ups, November has been great! @HerroCrypto
ZRXBTC Buy SignalBased on the RSI pattern (around the overbought zone) I expect a sharp increase if the 1D MA200 breaks. The same RSI pattern is seen in the past (Dec 2017 - Jan 2018 and April 2018) and on both occasions a strong rise followed (+1600% and +360% respectively). The less optimistic scenario puts the target tag at 0.00006500.