ZRX had a huge uptrend cycle and now, we are 110 days in correction. However the point is, that the correction might actually be finished and now, we will see new uptrend cycle. Normally I would prefer one leg down, to finish falling wedge, however the volume really rise up at 7th of January and this could easily be a bottom. So I have already bought ZRX at 2460 satoshis and I put really thin stop loss to 2378. My final target is 5049 satoshis.
Note
Very important moment for ZRX - if break upwards, I think that correction on higher time frame is finished, but it could easily fail, and be only ABC correction.
Note
So falling wedge is out of the table, but never mind, this is still very bullish. It could still ended up only as a ABC correction, but this volume is crazy, so I think the correction is over. The bearish target of this new uptrend cycle is at 5049 satoshi.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.