bZx Protocol Token (BZRX) Analysis 08/03/2021as we can see the token has passed from its Accumulation zone and now did an impulse wave and the rally started
we can see Hidden Divergence of Price and MACD Histogram, which is the sign of trend continuation.
there are total 3 TPs specified by Fibonacci projection tool,
if 2 TP gets Triggered then we may have some Correction and retracement and then continue its rally to our 3 TP
so 2TP will Guaranty the 3TP
Bzxprotocolidea
LET'S KICK THE TIRES AND LIGHT THE FIRESFirst ever pump incoming IMO.
BBs tight, moving averages bundled, stoch RSI on top. On Binance 24h volume is 60BTC for now.
Possible 5x-10x I expect.
TPs:
2400
3600
4800
6000
Goof luck...
BZRXUSDT - cup and HandleWhat Is A Cup And Handle?
A cup and handle price pattern on a security's price chart is a technical indicator that resembles a cup with a handle, where the cup is in the shape of a "u" and the handle has a slight downward drift. The cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume. The pattern's formation may be as short as seven weeks or as long as 65 weeks.
Example Of How To Use The Cup And Handle
The image below depicts a classic cup and handle formation. Place a stop buy order slightly above the upper trend line of the handle. Order execution should only occur if the price breaks the pattern’s resistance. Traders may experience excess slippage and enter a false breakout using an aggressive entry. Alternatively, wait for the price to close above the upper trend line of the handle, subsequently place a limit order slightly below the pattern’s breakout level, attempting to get an execution if the price retraces. There is a risk of missing the trade if the price continues to advance and does not pull back.
A profit target is determined by measuring the distance between the bottom of the cup and the pattern’s breakout level, and extending that distance upward from the breakout. For example, if the distance between the bottom of the cup and handle breakout level is 20 points, a profit target is placed 20 points above the pattern's handle. Stop loss orders may be placed either below the handle or below the cup depending on the trader’s risk tolerance and market volatility.
