CRYPTO of the week: ZRXBTC Daily to set context
A cycle ended at 19,234 high on 27/01/2018 and since then we have seen a double correction ending exactly at equal leg area 4,765 where it bounced. So far, the outlook in daily is neutral but we have a motive 5 waves from 1,356 low which indicated that we will see another one. Assumption is 1,356 low was starting a new cycle.
I was long from 20/03/2018 in lower time frame but out (I have not been able to catch the equal leg in daily).
For now, sequence from 18/03/2018 low is called ended at 11,476.00 and marginal new high would be part of a FLAT (I don't like to call FLAT ahead of its confirmation, but I'll explain in 4h chart)
4,922 is my reference for support now but it is a soft support as long as we don't break above 19,234 or we have a bullish sequence in daily. So at current level, bears will probably jump in soon and we should have a reaction for a pullback that would stay above 4,922 and I'd like to buy a clear a clear corrective 3 waves.
So daily, nothing to do if not in from 5,796 with stop below 2,710.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the 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.
I was long from 20/03/2018 in lower time frame but out (I have not been able to catch the equal leg in daily).
For now, sequence from 18/03/2018 low is called ended at 11,476.00 and marginal new high would be part of a FLAT (I don't like to call FLAT ahead of its confirmation, but I'll explain in 4h chart)
4,922 is my reference for support now but it is a soft support as long as we don't break above 19,234 or we have a bullish sequence in daily. So at current level, bears will probably jump in soon and we should have a reaction for a pullback that would stay above 4,922 and I'd like to buy a clear a clear corrective 3 waves.
So daily, nothing to do if not in from 5,796 with stop below 2,710.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the 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.
