CRYPTO of the week: ZRXBTC 4H UPDATE - motive 5 waves
ZRXBTC 4H UPDATE - 25/04/2018
9,715 held and 11,800 has been taken which opened the door for 12,992-13,484 with possible extension to 14,281 and bulls will have a line of bears at 13,598 as psychological price (I don't use them in my trading, but should not be ignored, especially when it is at equal leg area ;-)).
So, at the moment, cycle from 4,922 is mature with enough swings to the upside for a motive 5 waves. The right side is to the upside, but I won't buy this last leg for reason explained above and I would not sell either. I'll wait for a clear corrective 3 waves pullback where buyers should appear again. Need more data to propose levels.
Invalidation level to the upside is 4,922
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 22/04/2018-28/04/2018, I propose ZRXBTC
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
9,715 held and 11,800 has been taken which opened the door for 12,992-13,484 with possible extension to 14,281 and bulls will have a line of bears at 13,598 as psychological price (I don't use them in my trading, but should not be ignored, especially when it is at equal leg area ;-)).
So, at the moment, cycle from 4,922 is mature with enough swings to the upside for a motive 5 waves. The right side is to the upside, but I won't buy this last leg for reason explained above and I would not sell either. I'll wait for a clear corrective 3 waves pullback where buyers should appear again. Need more data to propose levels.
Invalidation level to the upside is 4,922
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 22/04/2018-28/04/2018, I propose ZRXBTC
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
Kommentera:
calling purple 5 ended truncated. Enough swings to the upside with RSI divergence in 1h. This is great news because it gives setup to buy lower. Will update 1h chart during Europe session and 4h during Asia tomorrow.
