ZRX.usd at Crucial "Double Bottom" Support: Likely to go Lower

ZRX has apparently lost its charm a few weeks ago.
It has been drifting lower while other alts are gaining.
Now at a crucial support zone or "Double Bottom".

But the Double Bottom is too obvious to everybody.
So the whales may try to break it for liquidity below.
But we do have a couple of strong fibs in that zone.

Chart notes:
Drag PRICE scale UP to expand overlapping numbers.
Drag TIME scale RIGHT to reduce and see more history.
Drag CHART itself UP to see other zones below window.

Kommentera:

1st Update (minor)

So we look to be holding support

But not exactly flying off the pad either.

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Zoom IN (15min)
Trying a fib on the last leg down

That whip like move down sure looks like an Impulse.
Its ripples are somewhat definitive but not pretty.
It is common that after a sudden/strong Impulse, the Ripples are not well defined until a little further from the Impulse.
But, if we get a pullback going up, then we will look for more confirmations of the fib lines.

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Zoom IN (8min)
Look at two fibs in immediate zone,

Purple Fib from original plot still well in control.
New Blue Fib MAY be adding some ripples but still questionable.

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In Summary:
- Not much movement yet, but slightly lower lows.
- Purple fib from original plot still in control.

Lets see what the US session brings today.

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