Please excuse the mess. I have no idea what I'm doing.
TRXBTC
is frequently testing the top of the red downtrend channel. I mean, you get it. That would be potential for a breakout or whatever. The 4H 200 EMA is looming up there, and price is traveling through the 100 EMA right now so we just gotta wait and see.
I'm looking for movement above the 4H 200 EMA and the dashed blue line for my bullishness to really kick in with a stupidly optimistic target of 1100 somewhere over the rainbow and realistic targets of 620, 780, and 880.
As far as the green channel goes...it was for my 1H chart. The short term trade has been active since 485 with the red trend line as the sell target. I just don't know what I'm doing so I didn't post anything.
So....If price follows the red channel, we absolutely do NOT want to break below that black line. If that happens, that's a lower low and I don't know where that stops if it isn't 360. I'm currently long, and bearish if price drops below 450.
I originally drew some Elliot Wave things, but didn't want to embarrass myself.
To conclude:
There is definitely a LOT of downward pressure.
The next 2.5 - 9 days will be pretty pivotal for sell or buy decisions.
The most bullish I can be right now is for sideways movement until the market decides in the next few hours - days.
The circles are the hold your breath zones
That light blue dashed line is a pretty old support line following higher lows
Anyway, I need to publish this so I can practice. I'm not very good at getting all my thoughts out. So, there's definitely something missing.
Thanks, y'all!
TRXBTC
is frequently testing the top of the red downtrend channel. I mean, you get it. That would be potential for a breakout or whatever. The 4H 200 EMA is looming up there, and price is traveling through the 100 EMA right now so we just gotta wait and see. I'm looking for movement above the 4H 200 EMA and the dashed blue line for my bullishness to really kick in with a stupidly optimistic target of 1100 somewhere over the rainbow and realistic targets of 620, 780, and 880.
As far as the green channel goes...it was for my 1H chart. The short term trade has been active since 485 with the red trend line as the sell target. I just don't know what I'm doing so I didn't post anything.
So....If price follows the red channel, we absolutely do NOT want to break below that black line. If that happens, that's a lower low and I don't know where that stops if it isn't 360. I'm currently long, and bearish if price drops below 450.
I originally drew some Elliot Wave things, but didn't want to embarrass myself.
To conclude:
There is definitely a LOT of downward pressure.
The next 2.5 - 9 days will be pretty pivotal for sell or buy decisions.
The most bullish I can be right now is for sideways movement until the market decides in the next few hours - days.
The circles are the hold your breath zones
That light blue dashed line is a pretty old support line following higher lows
Anyway, I need to publish this so I can practice. I'm not very good at getting all my thoughts out. So, there's definitely something missing.
Thanks, y'all!
Order cancelled:
Better to wait this one out with BTC potential 600-2k USD breakout // potential jumbodrooooop