Yesterdays breakout was a partial false flag, due to the USDT chart not breaking out at all, and just trading within the confines of it's big overall wedge. Similar to the BTC chart.
However, that's not to say we're not in the process of building a springboard for future action.
On the 14th, we should encounter both the Eye of Sauron & the 50 Fib level. We can either power through that for a real breakout, or it'll serve as resistance and we'll get triangled in against the 61 fib level.
Come the 20th, or there abouts, we'll either have to break up, or we could get knocked down the height of the triangle, which is exactly the next, 78 fib level. Taking us into the 15-17sat area.
But the volume spike of yesterday is a good sign. We've also got the cross up on the oversold daily stoch - so this is still very bullish. Plus awesome fundamentals of course.
However, that's not to say we're not in the process of building a springboard for future action.
On the 14th, we should encounter both the Eye of Sauron & the 50 Fib level. We can either power through that for a real breakout, or it'll serve as resistance and we'll get triangled in against the 61 fib level.
Come the 20th, or there abouts, we'll either have to break up, or we could get knocked down the height of the triangle, which is exactly the next, 78 fib level. Taking us into the 15-17sat area.
But the volume spike of yesterday is a good sign. We've also got the cross up on the oversold daily stoch - so this is still very bullish. Plus awesome fundamentals of course.
Comment:
In terms of this 'springboard' idea... I'm looking at this TRX fractal from when it first launched. I wonder if we get a repeat of this:
Comment:
And when you consider the USDT chart. This little step / springboard against BTC, merely takes us to the top of the wedge on the dollar chart. So if that then breaks out; we get the vertical price against against BTC.
Here's the USDT chart for BTT:
Here's the USDT chart for BTT: