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

30 באוק׳ 2019

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).

30 באוק׳ 2019

הערה

Here we are, with a kiss of the top boundary of our support zone

.

30 באוק׳ 2019

הערה

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

.

30 באוק׳ 2019

הערה

Bounce looking pretty good so far, has a clear Fib rhythm to it 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).

.

30 באוק׳ 2019

הערה

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

.

30 באוק׳ 2019

הערה

Almost there, watching closely

.

30 באוק׳ 2019

הערה

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

.

30 באוק׳ 2019

הערה

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

.

30 באוק׳ 2019

הערה

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

.

30 באוק׳ 2019

הערה

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

.

30 באוק׳ 2019

הערה

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

.

31 באוק׳ 2019

הערה

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

.

31 באוק׳ 2019

הערה

Support still holding, and the bounces off subsequently higher fibs is a good sign 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.

.

1 בנוב׳ 2019

הערה

Heads up: we are approaching possible Wave End points

.

1 בנוב׳ 2019

הערה

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

.