Ox (ZRX) Technical Analysis: Could There be a Breakout?
SUMMARY
The more I look across the Cryposphere, the more I see evidence in pattern and Elliott Waves that corrections are coming very close to their terminal ends! This is mostly driven by common pattern speciation which is derived from sentiment commonality. The mass psychology of cryptocurrency holders is what's driving this market.
The below chart shows what could be a very ripe and mature Cup & Handle pattern. While there is that risk of a breakout that morphs into a sideways action; it looks just ready to breach the upper white line.
Closeup of subwaves show that the handle formation is occurring after a five wave impulse and thus the handle is coinciding with the wave 2 of a higher degree of trend; hence the reason for the deeper retracement of 0.618 Fibonacci zone. The abcde subwaves of the handle looks just so done!
Drilling down to the subwaves of the final red c wave is showing that it's a zigzag and so putting in the final 5,3,5 markings. Exciting potential!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Bitcoin holders are selling for a lower price that those willing to by at a higher price.
I think that's one of the reasons.
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 130.86 SBD, based on the pending payout at the time the data was extracted.
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Is the mass psychology of cryptocurrency holders driving this market?
@heajin One's analysis may be true or false, but one will not analyze it before seeing the events behind,
So according to the facts you prove, almost all steemians agree with your opinion,
Thanks for sharing nice info. Let's hope for the best
Very interesting information. I wait for your next posts.
Please Follow back brother.
Nice analysis!
you say you do that to help people. I and many others have lost a lot of money by blindly following you. so we are the stupid ones. you teach in trading now and you say you have 15 years of experience. I have learned a lot thanks to @philakonesteemit and I still call myself amateur but a much better analyst than you now. @philakonesteemit teaches us about elliott waves fibonacci, macd and other indicators. he knows exactly how to buy and sell in detail. He shares this free on youtube and updates on his twitter. All this for free. You do this to make money on steemit and not to help people. from January we are in a bearish. both for bitcoin and altcoin and you encourage people from January to buy further because you say the market is bullish. Stop hurting people and you must follow lessons yourself before make analysis. I follow this men already 2 months and he is realy good. What i lost by follow you. I am making now profit by not follow you and follow this men: https://steemit.com/@philakonesteemit
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