below I see a favorable setup for TRXBTC for the short term.
This is a follow up from my previous TRXBTC analysis that I've post earlier.
1. Takashi bow signals a buy signal (takashiclub.com)
2. The daily closed significant above 80 ( ) this signals a mid term change in direction of the trend
3. The tradingpair stayed for a relative long period in this overbought zone. The left the overbought zone now aggressively
4. TRXBTC left the established since June. As you notice the last weeks the pair had a lot resistance in order to left the channel. Afterwards TRXBTC confirmed the bottom and seems now ready for a more powerfull short-mid term breakout.
The 38% and 61% fibonacci zones are good target zones to take partial profit in my opinion
Attention BTC is currently at a resistance and can retrace a bit. Later it can continue it's short term run towards the 7K levels before getting potentially rejected at 200 MA again or at the established downtrend since mars as I noted in previous BTC analysis's.
A potential BTC rejection would most probably take away the momentum out of our TRXBTC trading pair.
I'm looking forward to your feedback.
keep in mind: no financial advise.
Like most alts, TRX consolidated and found support at the Ichimoku cloud.
- CCI parameter points up,
- OBV indicator is slowing down but has the potential to break out very strong imo.