For starting I'd like to say, for those who missed it, that I'm bearish on BTC and from this point of view this pattern on ZRXBTC should be bullish. Secondly volume and indicators are not the in the best shape to support a bullish pump and ZRXUSDT looks like it has already broken out (a pennant in that case) but can't sustain the pump 
Here I see a symmetrical triangle which is usually a continuation pattern, in this case it should breakout and reach the target as I indicated on my chart. I don't think targets are much reliable lately though. I've seen EMA 200 holding and price which is good but I see volume going down on both pairs (BTC and USDT) and especially how the daily candle is shaping up after 2 other candles which are not very attractive for a long.
My opinion:
- if ZRXUSDT breaks out current resistance (0.743USDT) and closes over there you might enter as long as BTC runs out of steam (things I suppose gonna happen soon unless current BTC price get stustained from volume.
- if ZRXUSDT gets rejected don't enter or short it
- check ZRXBTC on the weekly, if it closes like this:
then you can expect it going up
I know, ALTS against BTC TA are always more complicated, this is the only one I'm into and hopefully will deliver sooner or later
Here I see a symmetrical triangle which is usually a continuation pattern, in this case it should breakout and reach the target as I indicated on my chart. I don't think targets are much reliable lately though. I've seen EMA 200 holding and price which is good but I see volume going down on both pairs (BTC and USDT) and especially how the daily candle is shaping up after 2 other candles which are not very attractive for a long.
My opinion:
- if ZRXUSDT breaks out current resistance (0.743USDT) and closes over there you might enter as long as BTC runs out of steam (things I suppose gonna happen soon unless current BTC price get stustained from volume.
- if ZRXUSDT gets rejected don't enter or short it
- check ZRXBTC on the weekly, if it closes like this:
I know, ALTS against BTC TA are always more complicated, this is the only one I'm into and hopefully will deliver sooner or later
Trade chiuso: obiettivo raggiunto
apparently the bullish scenario happened, all the indicators in this case were just messing up what I identified as a pattern
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.