$ZRX - 0x Protocol - Daily Analysis BittrexZRX has been on a nice run the last four days recovering its heavy loss five days ago. RSI is about to pass over the 50 mark which is a bullish sign and were breaking past the 10 day moving average. I am going to gamble a small purchase here as the only concern i have is that volume has been on a decline the last three days, but on Bittrex the order book is heavy on the buy orders telling me their may be a demand for the token right now. If I buy in now and we hit the next red resistance zone, that would be a 9% increase.
ZRXBTC trade ideas
0x (ZRX) - Bullish View Ive been watching 0x (ZRX) with some interest since Coinbase announced this was one of the coins it is considering adding last month. 0x has been performing really well compared to the rest of the market this past month. Currently, it is holding at the 200 day moving average (on the 0x/btc chart). If this triangle formation holds, expect 0x to go to the highlighted area. If the price goes below (c)...then all bets are off.
Please note, this the 0x v. Btc chart (not US$).
0x protocol is forming a YUGE Ascending Triangle here.Last year when I bought ETH at $350, no one believed that it was going to $700 or even $1,000.
My thesis here is whenever there's network effect working, the value of an asset is going to increase, exponentially!!
**This is NOT investment advice, trade with your own responsibility.
$ZRX, Red Days Ahead…
Weekly
Looking at our trend timeframe we see price has formed a double top: top 1 at 20000 and top 2 at 18000. Stochastic RSI showing momentum is heading towards the downside with no signs of slowing down. ZRX is currently testing our psychological support level, possible reversal at this level. Overall I’m expect a drop towards our dynamic/horizontal support level at 11000. A daily close above 15000 activates our trade.
0x VS Bitcoin Buying Opportunity0x trend remains upwards as the price continues to produce higher highs and higher lows. Currently ZRX/BTC is in a correctional phase, while the price has declined from 18600 satoshis high, down to the 13000 satoshis, losing 30% to Bitcoin.
At 13k satoshis, ZRX has rejected the 88.6% Fibonacci retracement level applied to the last wave up. At the same time it has rejected 61.8% Fibs applied at the beginning of an uptrend. Both of the Fib levels were rejected along with the 200 Moving Average.
If 13k support area will hold, the uptrend is likely to continue, but consolidation could take place prior to that.
Nevertheless, if the daily close will be below 12900 satoshis low, further correction should be expected. Price could drop towards 12k or 11k satoshis area. And only break and close below 10800 satoshis would invalidate bullish outlook and downtrend continuation can be expected.
ZRX/BTC 4 hr..Highly Volatile...Hello everyone, to a requested look at ZRX (0x) spread to BTC. Thank @Aromur for being the first to PM my open-offer TA ;-)
I have not looked at this asset nor traded it. So hopefully my analysis will be insightful and somewhat objective. I am not in this trade--hence the neutral position. However, if I like what I see, I will not hesitate to long ( I will explain).
Liquidity with this asset is roughly 57%, with the bulk of trading on Binance. My dominant TA here is that we are in a 1,2/1,2, so long term implying much higher prices. However, take note of the volume spike and the break. This implies, at least in a shorter time period, lower targets, and thus, a much better R/R there. Huge overhead resistance will almost certainly slam any attempts to run this to an impulsive 3rd target, which is so high it will not be visible unless you scroll way up. Lower targets for sellers are yet unrealized. I have set some alarms and will update this asset, as I will be no longer be posting any of my personal trades (due to security reasons).
Stay tuned for updates.
ZRXBTC BITTREXFirst trade successful on ZRX after it broke the short term downtrend with a bounce off the long term weekly uptrend, finding resistance and being rejected at the 15k sat level. After a small retrace, ZRX has found some support at the 38.2% fib level and looks like it could continue up to retest 15k. If it continues up we will may see a break of this resistance and another bullish move up to test the daily resistance level at around 16.3k sat. If ZRX gets rejected again at the 15k level to form a double top then we may see a further retrace down to support around 14.1k. This level of support aligns with the 61.8% fib level which would be an ideal entry IMO for the next bullish move.
Watching closely over the next few candles.
Buy zone around 14.1k sat.