ZRXBTC trade ideas
$ZRX/BTC 4h (Binance Spot) Descending channel breakout & retest#0x Protocol broke bullish and seems to be preparing for next move up after that pull-back.
Current Price= 0.00003119
Buy Entry= 0.00003074 - 0.00002990
Take Profit= 0.00003466 | 0.00003725 | 0.00004064
Stop Loss= 0.00002742
Risk/Reward= 1:1.5 | 1:2.39 | 1:3.56
Expected Profit= +14.31% | +22.86% | +34.04%
Possible Loss= -9.49%
Fib. Retracement= 0.618 | 0.786 | 1
Margin Leverage= 1x
Estimated Gain-time= 2 weeks
The ZRX BTC looks cuteInterestingly, a blow of top will occur at a certain moment on such stairs and it can be very interesting how much it will throw ...
The reset RSI looks like a 4H pro upward movement, the MACD is also starting to buckle to the intersection and the start of a new uptrend.
The only thing that can slow down the increases a bit is the fake intersection a slight decrease to the support at 0.0000340Sat
ZRXBTC on the move... FINALLY!Ok, I admit it, I was very very annoyed with this one! I've entered at begin of February which in retrospective was a month in which I should have just traded BTC for short periods. However after a long wait ZRX is moving up again and hopefully this will go over its ATH.
IF you entered the trade when I posted my old TA on this one you're currently +20% so congrats if you followed me before. However let's talk about current situation: price is currently hitting an ichimoku resistance, to leave the chart more tide up I've left that shorter purple rectangle to indicate it.
I think it's likely that price gonna bounce off this resistance and go down. You can accumulate at 2885sats (buy 30% here) and also at 2715 sats. Should price go lower than this last resistance sell to cut potential loss, a thing which is likely to happen if BTC start pumping big.
The bullish scenario is that in 3 days price enters the cloud (again, not shown here) and gains momentum to pierce it and break upper resistance. If this happens you better have your bags filled ;)
In any case this trade can also take weeks but in a way or another I think ZRX will do very well and return good high profits. The project itself has wonderful FA and this counts!
Something interesting is cooking on the ZRXBTC
The ZRX to the BTC pair begins to move upward. Personally, I see a nice opportunity to earn at least 75% to the btc pair and even from 80-150% to the dollar.
in addition, the fact that we are dealing with an upward movement is the RSI and MACD indicator where you can clearly see the upward direction.
As you can see, the ZRX rebounded from the average, which is normally used to determine the PI cycle on BTC, but as you can see, it also applies to other currencies but not to determine the top of the rate as in the case of BTC
ZRXBTC in a channel! Not financial advice but someone sharing his trading diary!
- Price might hit the midline + 618 confluence and then bounce or pullback to the bottom of the channel. Invalidation on the wick below the Breakout.
- Something else to watch for: There is a high volume node right at the top of previous intraday candles that can serve as strong local resistence.
- Targets are weekly / Monthly levels above.
Risk: 1%