ZRX Cup n' Handle with Equal PennantHello, welcome to my ZRX analysis!
For ZRX we've started off making a cup and handle, completed the retrace, then moved into an equal wedge structure. The overall cup-target has not been completed for ZRX, therefore, after we break the pennant's upper trend we should see a decent run.
Green zones are targets, an entry currently would be when it decisively bounces off of the base of the wedge (Wave E) then proceeding to challenge a break out on the top giving time for you to react and hold till you see fit. If it is rejected then you can still sell for a profit. An appropriate stop would be below the pennant. Unlike with ICX where, where we saw the same structuring, we'll likely have BTC working with us this time.
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ZRXBTC
0x is still going UPCoin of the day is ZRX(0x).
Continue to follow ZRX July uptrend.
To recap, 0x(ZRX) is an ERC20 based protocol designed to offer a decentralized exchange as part of the Ethereum blockchain. The main idea of 0x creators Will Warren and Amir Bandeali was that any use case that involves an exchange of different assets could eventually be built using 0x.
Latest news
0x team are planning to release 0x v2 in the late July.
Technicals
Starting from the 0.0001 level, ZRXBTC is drawing a bullish pattern, continuing a global bullish tendency with the third wave of growth. Recently the price broke above the 100-days EMA and fixed this breakthrough by holding itself above the 0.00015 level. By crossing above the 0.00015 ZRXBTC is passing to the last 26% Fibonacci zone before previous price peak. For now, the pair will probably go into a lateral movement after the 0.00015 breakthrough. The 0.00016 level will be the next step on the way up in case if the price will find support in the lead of the 0x v2 release. 0.00015 level should stay supportive for the current bullish tendency.
Short term Long ZRXBTC intraday trade: Bullish divergencesBullish divergence on MACD-H and EFI
I am trying to buy in the value zone
Entry: 0.0001360
Target 1: 0.0001399
Target 2: 0.0001410
Stop Loss: 0.0001342
Target 1 R/R ratio: 1:2.1
Target 2 R/R ratio: 1:2.7
Targets are flexible, depending on how the trade develops.
I did not succeed on the entry just yet, I have to wait for a pullback and will time my entry on the 5m chart.
I expect it to pullback at least to -1 ATR, if not, I'm passing on this trade, then I'm too late for the party.
$ZRX - 1D 10/20 EMA potential upcomingWith the recent $BTC rally, alts are starting to show some life again.
We have an upcoming 10/20 EMA cross potentially on the 1D chart and so far strong buying pressure shown by the Heikin-Aski.
Previous 10/20 crosses have shown a confirmation in strength of a rally and produced profitable results.
In my opinion, it is better to wait for these confirmations rather than FOMO into trades. As shown previously, there will be plenty of profits to be made if it is a true rally and change in trend.
ZRXETHMACD bullish
RSI holding up
Target 1 established on fib extension
Possible 18% gain from entry
Vol looking good
0x: 0x Protocol v2 Released - PROFIT = 22.31% !!!Our "Crypto Bottom" Trade Indicator has correctly identified a buy in point on the 30th of June 2018.
Using this buy in point and selling at today's peak price as identified by our NEW "Crypto Peak" Trade Indicator , you would have expected to net 22.31% PROFIT!!!
The increase in price may also be explained by positive developments including:
Feb 7: OpenFinance completes the world’s first ever fully compliant security token trade via the 0xProject protocol!
March 24: 0x announces 0x Trade Widget (allows users to instantly buy Ethereum 4.61% -4.27% 1.12% tokens with 0x protocol).
April 5: 0x announces 0x Protocol v2.
April 6: 0x tokens are ablet to be traded on Abra wallets.
April 19: 0x announces that its protocol enables Compliant peer-to-peer trading allowing for widespread DEX adoption (by meeting KYC and AML requirements).
April 26: 0x announces the Bloqboard, the first live Dharma Debt Relayer is launched.
April 26: 0x announces SharkRelay was released live on it mainnet.
April 27: 0x announces Short selling and leveraged long trading coming to decentralized exchanges soon via dydxprotocol
May 2: Radar Relay (facilitates wallet-to-wallet trading using an open order book) using the 0x protocol facilitates $100 million worth of volume during their beta period.
May 2: Rumours released that 0x will be released on Coinbase.
May 3: Bambo Relay is released. It is a ERC20 relayer that is built on the 0x protocol. It has the following features:
- Trade directly from your Ledger Wallet
- Night and day mode for the UI
- Trollbox
- The ability to trade any ERC20 compatible token
- Standard Relayer API endpoints
- Free trades during the beta
May 3: Radar Relay (which uses the 0x token) is available in Chinese and Korea.
May 9: 100,000 lifetime trades hit on the 0x protocol.
May 9: Announcement of 0x Protocol v2. The changes are as follows:
-Generalized Asset Transfer Proxy
-Batch Transfers in Proxy
-Atomic Order Matching
-Forwarding Contract
-Gas cost analysis
-Combinatorial Testing
May 20: 0x announces launch date for the 0x Protocol v2 = July 2018
May 24: DDEX announces Japanese Trading Interface 0.44% 0.74% -0.88% .
May 24: Coinbase acquires cryptocurrency trading platform Paradex. Paradex uses the 0x protocol.
May 29: Amadeus Relay launces their Beta on the Kovan Testnet including a new feature: Quote Provider Relayer Strategy.
June 5: John McAfee predicts that 0x will hit $2.90 but the 1st of August.
June 16: Paredex Decentralised Exchange announces that they are now online for non-US customers and with zero trading fees.
June 19: Ledgerdex is releases it's Beta Program. Ledgerdex is a ERC20 token manager and decentralized exchange (DEX) built on top of the 0x Project.
June 28: Ethfinex is released which allows for Ethereum Token Trading and discussion.
June 29: 0x Protocol V2 is now deployed on the Kovan test network. This includes the following:
New smart contract architecture; seamlessly support new token standards. Support for ERC-721 at launch
More efficient order matching and cross-relayer arbitrage
Support for new signature types and custom verification logic
Open source framework for “forwarding contracts.” Easy user on-boarding, abstraction of WETH, and trade widget support.
Ability to create “filter contracts” for permissioned liquidity pools
Bulk order cancellations with a fixed sized transaction
The general uptrend in the crypto markets as well as the positive developments outline above.
***The "Crypto Bottom" and "Crypto Peak" crypto trading used in this analysis is included as part of the Crypto Trade Signals subscription.***
0x turnaround opportunityCoin of the day is 0x.
One more turnaround chance for the most popular ERC 20 token and one of the biggest growers of this spring - ZRX.
To recap, 0x(ZRX) is an ERC20 based protocol designed to offer a decentralized exchange as part of the Ethereum blockchain. The main idea of 0x creators Will Warren and Amir Bandeali was that any use case that involves an exchange of different assets could eventually be built using 0x.
DEX’s exchanges (Decentralized Crypto Exchanged) becoming the more popular within past year, many even think that this technology will eventually replace centralized exchanges like Binance. A lot of DEX’s are developing based on 0x protocol, which is fueling the growth of the coin, as 0x is one of the most popular tech providers for the Decentralized Exchanges.
Latest news
Jun 26 - LedgerDex beta launch announcement. As a token manager, LedgerDex allows users to keep track of their token balance, send and receive ERC20 tokens. As a decentralized exchange (DEX) built on top of the 0x protocol, LedgerDex allows wallet-to-wallet trading of any ERC20 tokens and supports unlimited trading pairs.
Technicals
Didn’t able to turnaround on Jun 15 above the 100-days EMA ZRXBTC went down, probably under the overall pressure on the crypto markets, provoked by Bitcoin price stagnation. Yesterday the price found support on the strong psychological level 0.0001. Also, turnaround on this level will fit in the correction to the spring uptrend scenario and would be a good spot to start a next uptrend cycle from the technical view. The last key-point for a turnaround which will fit in a growth scenario would be 0.000085 level which coincides with the Bullish Trend Line at this point of time. From the upside, a breakthrough of the 0.000115 will confirm the turnaround formation and send the price testing 0.000135 – 0.00014 zone.
0x/Bitcoin (ZRXBTC) Broker Burns up?0x/Bitcoin (ZRXBTC) 4-Hour Bars, Normal Scaling, 06/24/18, Written 12:35 a.m. EST, by Mike Mansfield
Hi trader friends, we have 0x Protocol under an Andrews 0.618 support line & the Fibonacci 0.618 retracement, with only 3 of 5 waves completed on the downside, so there should be a bit more to come. After the expected low, larger bounce is due, preferably from a bit lower at 0.000008585 area, where I show a green arrow turning up. But, this broker/exchange technology is not catching fire lately, while Bianance has been killing it (see past recos).
ELLIOTT WAVES: CORRECTION or IMPULSE?:
This looks more like a giant correction down. Here’s why:
Angular momentum down on Wave (A) is steeper than the angular momentum down on Wave (C), at least thus far.
Even Wave 3 of (A) is steeper than Wave 3 of Wave (C).
Therefore, Wave (C) is LESS likely to be an Impulse wave. Instead, we are likely in a Wave (C) correction.
CYCLES:
Red cycle in trough phase, with actual trough on 06/20/18. Blue cycle is still heading down.
This often means a big bounce is due, but maybe not a new uptrend yet. Price is more important than time.
Red cycle tops again on 08/08/19, so you'll likely want to be out of any longs before that.
Blue cycle bottoms in early October, 2018, along with some other large cycles in BTC.
DIVERGENCE:
Both RSI(9) and MACD have bullish divergence suggesting the low is getting near.
TARGET UP:
Upside bounce target is the prior Wave IV area, likely launch from the next Andrews Pitchfork and FIBO intersect line, both shown by the green arrows.
BOTTOM LINE:
Possible short-term tradeable low coming. There should be another short sale opportunity, at the prior Wave 4 horizontal black line area, after the expected big bounce.
Have a great week!
DISCLOSURE:
This analysis is meant for educational purposes only. You trade at your own risk!
Cheers!
Michael Mansfield CIO
ZRX - King of Non Fungible Token Expect some great news from ZRX in Next Month with launch of Protocol V 2.
Can we go Further Down ? - Sure, Nothing is Certain especially as entire crypt Market is in Stress, However it is very unlikely especially since we are so close to Trend Line.
Risk Reward Ratio is also good so will be opening a Long with SL Below Trend Line and Target will be Open; above ATH
$0X, $ZRX Price Repeats History...
Weekly
Looking at our trend timeframe we see ZRX is looking to form a double bottom on our highest timeframe. Stochastic RSI showing momentum is heading towards the downside, with no signs of slowing down. A weekly reversal at 8000 is our ideal opportunity.
Daily
Shifting over to our pattern timeframe we see price is copying our previous drop from 18000 (higher high) to 5000 (higher low). Stochastic RSI showing momentum is heading towards the downside with no signs of slowing down. Expecting our higher high at 22000 to retrace and form a higher low at 8000. Worst case scenario support at 8000 does not hold and we see a drop to 5000 leaving us with a regular double bottom and not our infamous wammie double bottom.
ZRXUSD. Trend Analysis
The trend is bearish. The target for the triangle on the chart. Also this is the place of the volume profile, so from there you can try to go to long for a small part of the Deposit. We also slide in the channel of the downtrend. Its breakout can be used to identify early trend change to bullish. We also have an important variable. This is a bullish divergence of the higher order and strong oversold. So be careful with short positions. Also on trading strategy on the channel. You can enter the long against the trend when you reach the lower limit. This is a strong dynamic support
ZRX/BTC | I know you love those Cups and Handles | 0xWell the time has come. Cup and Handle – the pattern loved by everyone. If price will be able to stay above 0.000186 that will be our confirmation. I prefer to buy now at 0.00017 and set a stop-loss at 0.000152. There is a real possibility that the price will go down to 0.00009 so don't forget about that stop-loss.
1st target is 0.00024-0.00025
2nd target is 0.00029-0.00031
Please remember: my trading style is agressive and percentage of buys is high. You should always ask yourself if you are capable of losing amount of money that you put into after stop-loss is triggered
Smash that like button if you anticipate upcoming rally
0x - now is could be a good place to buyCoin of the day is 0x.
One more bottoming pattern caught the eye today. Ox token is one of the biggest growers in the 2018 year, went through a correction since our last review, but now seems to be showing positive signs of a rebound.
0x(ZRX) is an ERC20 based protocol designed to offer a decentralized exchange as part of the Ethereum blockchain. The main idea of 0x creators Will Warren and Amir Bandeali was that any use case that involves an exchange of different assets can eventually be built using 0x.
Development of DEX’s based on 0x protocol fueling growth of the coin, as 0x is one of the most popular tech providers for the Decentralized Exchanges.
Technicals
ZRXBTC downward movement found a support on May’s minimums at 0.000135 – 0.00014 levels, which coincides at this point with the 100-days EMA. Turnaround on the 100-days EMA would fit well in the growth scenario from 03.18. Crossover of the 0.00015 – 0.00016 zone and Bearish Trend Line will confirm the formation of the next Bullish wave with target 0n the 0.0002. A prolonged lateral movement in the 0.00015 – 0.00016 zone is acceptable, prior to the upward breakthrough. Negative scenario is a rebound back from the 0.00015 level and a dive below the 0.000135 support that will send the price in the deeper correctional pattern.
ZRX/BTC Cup and Handle UpdateZRX is still forming a handle from previous big cup and handle pattern which took 3 months to fully form
Some things to note here
Coinbase announced today that it will list ETC in the next few months, the first of potentially multiple new tokens on their site
Price is moving sideways and downwards in a range of about 18k-14k Sats
Support waiting at 13k Sats in the mean time
Still waiting a major bounce from one of supports or broken trend and ultimately awaiting continuation pattern upwards
ZRX Appears oversold with current RSI sitting on 13 which may usher a bounce at current level
Below 12k Sats spells danger for the pattern AND near 11k Sats ($0.75) this handle will be below the halfway mark down the bowl and the pattern will be no longer valid!