0x trend remains upwards as the price continues to produce higher highs and higher lows. Currently ZRX/BTC is in a correctional phase, while the price has declined from 18600 satoshis high, down to the 13000 satoshis, losing 30% to Bitcoin.
At 13k satoshis, ZRX has rejected the 88.6% Fibonacci retracement level applied to the last wave up. At the same time it has rejected 61.8% Fibs applied at the beginning of an uptrend. Both of the Fib levels were rejected along with the 200 Moving Average.
If 13k support area will hold, the uptrend is likely to continue, but consolidation could take place prior to that.
Nevertheless, if the daily close will be below 12900 satoshis low, further correction should be expected. Price could drop towards 12k or 11k satoshis area. And only break and close below 10800 satoshis would invalidate bullish outlook and downtrend continuation can be expected.
At 13k satoshis, ZRX has rejected the 88.6% Fibonacci retracement level applied to the last wave up. At the same time it has rejected 61.8% Fibs applied at the beginning of an uptrend. Both of the Fib levels were rejected along with the 200 Moving Average.
If 13k support area will hold, the uptrend is likely to continue, but consolidation could take place prior to that.
Nevertheless, if the daily close will be below 12900 satoshis low, further correction should be expected. Price could drop towards 12k or 11k satoshis area. And only break and close below 10800 satoshis would invalidate bullish outlook and downtrend continuation can be expected.
Commentaire:
support rejected
Trade fermée: cible de profit atteinte
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