A quick look at 0xWe have seen some great action with 0x over the past few days.
Since early Jan we have been finding support on the Bollinger Band basis in the daily for the most part, since Jan 28 we have been finding support on the white upper BB. On Feb 3 we saw the Blue LSMA turn back up and as a result we saw a considerable expansion of the BBs.
In the near term group of TFs (1d, 2d, 3d, 4d) the Green MA is higher than the Energy indicating upward pressure and the Red RSI and Blue LSMA have made contact with the Green as it rises also indicating upward pressure. We do however have to be cautious when the Green is so much higher than the Energy, particularly when the Energy is hovering around just above 50. We are currently seeing oversold conditions in the near term group of timeframes.
As discussed in some of my other analyses, changes propagate upwards from the scalping group of timeframes, (6m, 12m, 23m, 45m). It is important to constantly monitor these timeframes to get an idea of how the dynamics will propagate up. As we start to see the Energy above the Green as currently in the 6m & the 23m we need to be cautious. This downward pressure can quickly propagate up through the timeframes.
When the Red RSI fell below 50 in the 23m a downward pressure race was triggered. In order for upward pressure to resume, we first need to see the Energy in the 23m CLOSE above 50 before the Red RSI in the 45 CROSSES below 50. If the Energy does win the race, we need to see the Green MA higher than the Energy in at least the preceding three preceding halved timeframes from the timeframe in which the race was triggered. If the Red RSI in the 45 wins the race, we then need to concentrate on the Energy in the 45 and the Red RSI in the 90.
Because of how much higher the Green is than the Energy in the higher TFs we can see pressure reversals manifest themselves rapidly.
With the Red RSI below 50 and the Blue LSMA heading in that direction in the 45, we are at risk of the price action falling between the White/Aqua lower BBs, if the Blue LSMA crosses below 50, we could potentially see the price action fall between the Aqua/Orange lower BBs.
In the 45 the Red RSI & Blue LSMA are dropping quickly toward 50 and the Red RSI is at risk of crossing bearish below the Blue LSMA. If the Red RSI & Blue LSMA close below 50 in the 45 we could see the price action fall between the Aqua/Orange lower BBs (currently $1.22 - $1.06)
I am for now marking this publication as neutral because although we are bullish in the near term, we can see potential for a reversal in the lower timeframes.
This is not a signal one way or the other.
As always - this is not financial advice but just my view of current market dynamics.
One has to be aware that analyses are done on the basis of what the indicators are saying at the time and things can change. It is important to always monitor the scalping group of timeframes as we will see changes propagate up from there.
Trade safe
aBL
Market insights
0x (ZRX) Approach important line >PARABOLIC way to 6USD(Update) SUPER PERFECT PREDICTION ZRX :rocket: half year old. We are part of magic!
0x (ZRX) Approach important line way to 6USD SUPER PERFECT PREDICTION ZRX :rocket: half year old. We are part of magic! :heart: :regional_indicator_z: :regional_indicator_r: :regional_indicator_x:
ZRX Mooning! 2USD - Technically very possible (10USD DOGE Style)What three Letters do you see today? - Z - R - X -
Nice little swing, sell opportunity and buy back at 0.5 FIBAs usual in a bull market, the swings are becoming more volatile. this is a good moment to sell on the retracements of the Fibonacci Sequence and buy back in around the 50 EMA, which points to 0.5 on the FIB.
zrx usd reversalInverse head and shoulders formed
growing rsi
nice bullish volume
It's very likely to start a big bullish cycle from here.
Just an idea
0x 200MA Support200MA (in green) can be seen as a resistance turned support in this case
Trying a new style, I like the Triangles
I also like this cryptocurrency
Fib range 0.618 and 0.382 is concerned in this case
Ox still looking good , Road to 1.00 hey guys after looking into ox it seems to be able to ride to the last HH ,
lets just see if we can get a full candlestick to apply where that wick was for the HH
what do you guys think ? let me know in the comments
Ox still looking good , Road to 1.00 Ox has been doing great , if yall was with me on my last OX post , i forgot to celebrate hitting our pit stop ,
it was amazing profit rolling in , if you are new to my posts than you haven't missed anything that isn't going to happen again ,
looks like ZRX is in a strong buyzone , it may be fall down a little more so for now i would limit the order ,
this is a amazing crypto and the value is defff there , lets see if we hold up strong here and then make our way to 1.00 ,
what do you guys think about Ox ? all comments welcome ,
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ZRX - About to MOON This exclusive mega coin that the world cannot live without is about to moon to $.80!
Ox's Road to 1.00 ( possible BuyZone )Hey guys , it looks like Zrx/Usd is making its move back down , to test the support .
it looks like my previous chart was very good , thank you guys for viewing and all the messages you guys send me are amazing .
thanks again , don't forget to follow me for more .
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