ZRX very uncertain

2022년 4월 20일

For starting I'd like to say, for those who missed it, that I'm bearish on BTC and from this point of view this pattern on ZRXBTC should be bullish. Secondly volume and indicators are not the in the best shape to support a bullish pump and ZRXUSDT looks like it has already broken out (a pennant in that case) but can't sustain the pump

Here I see a symmetrical triangle which is usually a continuation pattern, in this case it should breakout and reach the target as I indicated on my chart. I don't think targets are much reliable lately though. I've seen EMA 200 holding and price which is good but I see volume going down on both pairs (BTC and USDT) and especially how the daily candle is shaping up after 2 other candles which are not very attractive for a long.

My opinion:

- if ZRXUSDT breaks out current resistance (0.743USDT) and closes over there you might enter as long as BTC runs out of steam (things I suppose gonna happen soon unless current BTC price get stustained from volume.

- if ZRXUSDT gets rejected don't enter or short it

- check ZRXBTC on the weekly, if it closes like this: then you can expect it going up

I know, ALTS against BTC TA are always more complicated, this is the only one I'm into and hopefully will deliver sooner or later

2022년 4월 20일

거래청산: 타겟 닿음

apparently the bullish scenario happened, all the indicators in this case were just messing up what I identified as a pattern