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ZRX.USD approaching 1st possible Support: 0x Retrace Watch 1

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Quick post to observe price action around a probable support zone.
What happens here will be telling of strength of the downward wave.
I expect a significant bounce here, if not we go much much deeper.

This is a follow up to my previous Warning of a Top (click).
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Here we are, with a kiss of the top boundary of our support zone snapshot

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So we got a decent bounce off the bottom boundary of support snapshot Immediate resistance now is 27.5 cents, with a tight confluence of several fibs.

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Bounce looking pretty good so far, has a clear Fib rhythm to it snapshot and points to a clear resistance coming, at 0.2818xxx
Lets see if we get there (I think we will), and the reaction there (rejection or pierce).

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Noticeable reaction at the blue 2.618 snapshot ie: Fib still confirming, and the 3.618 still looks like a good target.

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Almost there, watching closely snapshot

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Pierced that first resistance with authority. snapshot Next is a Cluster of fibs, covering a pretty wide price range. Expecting it will take a few tries to work through that zone.

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ZRX showing its fellow alts how to walk up a fib stair case snapshot

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Retraced to the Blue 2.236 snapshot It "should" bounce here if bull wave is to continue.

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Pulling back prertty hard now, but approaching the 1.618, which should offer some support snapshot

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Uh Oh, this rejection off the 2.236 is not a good sign, snapshot the 1.618 really needs to hold now.

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New fib of second bounce snapshot but the rejections from subsequently lower fibs is not a good sign full bulls.
Need to push past Band 3 above, asap.

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Support still holding, and the bounces off subsequently higher fibs is a good sign snapshot but bulls are having a tough time gaining momentum.
Currently painting a Triangle or "Pennant". I guess patter traders would expect a continuation downward from this triangle, but let see.

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Heads up: we are approaching possible Wave End points snapshot

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ZRX just keeps on going, especially after a clean retest of resistance snapshot Looks like we might nearing a top but let see

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EuroMotif
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FibonacciSupport and Resistance

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FibonacciSupport and Resistance
EuroMotif
Mod
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
Também em:

Publicações relacionadas

Aviso legal

As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.