We are in a situation where it is hard to set entry points. On the daily RSI TRX is all ready turning slowly to the upside move, but on 4hour chart I feel we are going to test the 200-day ema. As we can also see, we are still inside the bearish wedge. Same is for BTC which also will affect this market.
I would keep close eye on this market, especially next week. If you are using daily trading, it could not go wrong too bad if you have made your entry all ready. For the more greedy participants, I would set my entry goals to 690-730 area and keep close watch on next week. If TRX can break this wedge, we might not test those lower areas at all anymore.
This is only my idea and view, not financial advice by any means. Please leave a comment below what you think.
We have broke the wedge to upside, but I am still bearish for some days for TRX. Anyway we made a high but could not break the previous high and now we are making lower highs. Also in my opinion BTC seems still bearish untill it hits the average line and in 4 hour RSI BTC and TRX are both going down. So I hope and feel that we will still visit the bottom. But like mentioned, eyes needs to be kept open for proper entry.
Just for my own sake I write this down here, to keep my eyes on 18th of may..
Just for my own sake I write this down here, to keep my eyes on 18th of may..