OX (ZRX) Analysis: Head & Shoulders Top Pattern Alert

in #bitcoin7 years ago (edited)

Here is a chart of ZRX with a porminent Head & Shoulders Bearish Top pattern. The Left Shoulder (LS), Head (H) and Right Shoulder (RS) are very symmetrical. The Neck Line (red horizontal was pierced but prices came but above it. Given the rising wedge pattern as outlined by the black trend lines, ZRX will likely succumb to the H&S Top Bearish pattern and so will have lower lows as being probable.

If you are a long time holder of ZRX, then the coming bottom could be an attractive level to accumulate.

Here is a primer on Head & Shoulders Top Patterns:

http://www.investopedia.com/terms/h/head-shoulders.asp


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Legal Mumbo Jumbo: 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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Holy cow! I bought some zrx to hold for vigil me months but meh will have to hold them not longer.

Thank you for analyzing this. Not really what I wanted to hear but it is what it is.

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