ZeroX Is Ready For A Bullish Run
ZeroX can be approaching the end of a big bullish triangle correction.
Cryptocurrencies are becoming more and more interesting after a long correction in 2018, which can be approaching the end soon. There are many interesting cryptocurrencies, but we decided to share ZeroX against Bitcoin (ZRXBTC).
Why against BTC? Well, there are no big differences between XXX/USD and XXX/BTC crosses. While many cryptocurrencies against USD are trading in a deep correction, we see some XXX/BTC crosses trading in a sideways triangle correction, so both are corrective patterns, which suggest more upside.
Let’s take a look at ZRXBTC chart. As you can see and as we mentioned above, ZRXBTC is trading sideways in 2018, which more and more looks like a running triangle pattern. It can be trading in late stage of a final wave (E) that can find support between 0.00010 – 0.00012 area, around ideal 61,8% Fibonacci retracement and at that red lower line of a triangle pattern.
So, watch out for a bounce, while it’s trading above 0.000098, just keep in mind that we need a confirmation, which in our case would be a break above previous wave (D) swing high. That said, only a break above 0.0001852 would confirm a completed triangle, which would open door for new all-time highs.
ZRXBTC, 4H
Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.
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