Bavo_De_Bondt
Long

TRXBTC: RSI, HMA Takashi Bow analysis -> long

BITFINEX:TRXBTC   TRON / Bitcoin
Hello,

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 Hull moving average ( HMA ) 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 RSI left the overbought zone now aggressively
4. TRXBTC left the downward Channel 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.
Sep 22
Comment:
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.
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