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Chloster
Dec 18, 2018 5:19 PM

TRX/BTC 4H Rising Wedge Formation Short

TRON / BitcoinBinance

Description

*TRX/BTC looks to be ready to complete a rising wedge pattern.
*Decreasing volume is a good indication, look for an expansion of volume on the support break.
*A good entry would be to enter below the last low reaction
*Look to take profits on the 4H 200EMA area

Order cancelled

Massive move up negated the rising wedge.

*Tip: Always wait for confirmation. This was a good example of a nice looking bearish setup that entered too early would've been nasty. Always wait for confirmation.
Comments
CryptoEngineering
MaikSousa1
Do you think it could fall to 393?
Chloster
@Maiksousa, Anything is always possible, unlikely now.
afvm
Where's your entry?
Chloster
@FilipeValentim, Depends on if we get another reaction off the support but as of now its at 393 sat
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