ZRX looks bearish for the time being. Ever since its taken out 13401 satoshis (market structure shift level), its proceeded to make lower lows and lower highs indicated by the red boxes. Simple market structure trading. It had a nice little bounce at the demand zone around 9791 satoshis, but couldn't breach the resistance level preceding it. Take short trades on this with caution. If it doesn't bounce at current price levels, and cannot breach above 9791 satoshis should see accelerated selling once again towards the red line which is where i'll be taking profits. You can ultimately take profits inside the green zone, but I will be playing it safe and taking profits at the red line which is where an old high of a volume spike (buying pressure) is located.
TLDR: Neutral until price dips below the pink box, will then short until prices reaches the red line located at the top of the green box labeled "target zone".
TLDR: Neutral until price dips below the pink box, will then short until prices reaches the red line located at the top of the green box labeled "target zone".