Hello!
TRXBTC
We can spot a few things in the TRXBTC chart. First, we can see that a Wedge has formed right around the support area that we've been testing the last couple days, also, Ichimoku shows us that the Conversion Line has crossed the Base Line, along with that, we can see that RSI shows a positive growth and it's climbing steadily.
Signs are that we will probably break to the upside and test 960 sats, as a resistance zone. If we can't confirm the break to the upside, we will go down to around 820 sats first, which is current support, but if we do, I doubt it will hold. So the target on the downside is around 780 - 820 sats. area.
With all that, we also have to keep an eye on BTC, because the majority of movements in this market are correlated with it.
Thanks, and happy trading folks!
TRXBTC
We can spot a few things in the TRXBTC chart. First, we can see that a Wedge has formed right around the support area that we've been testing the last couple days, also, Ichimoku shows us that the Conversion Line has crossed the Base Line, along with that, we can see that RSI shows a positive growth and it's climbing steadily.
Signs are that we will probably break to the upside and test 960 sats, as a resistance zone. If we can't confirm the break to the upside, we will go down to around 820 sats first, which is current support, but if we do, I doubt it will hold. So the target on the downside is around 780 - 820 sats. area.
With all that, we also have to keep an eye on BTC, because the majority of movements in this market are correlated with it.
Thanks, and happy trading folks!
Trade closed: target reached:
Hello everyone! Just posting a quick update to show how Tron has followed exactly our analysis, it broke out to the downside and found support in our target, around 780 - 820 satoshis. Now would be a really good opportunity to keep watching TRXBTC too see how it plays out in the coming days.
Goodbye!
Goodbye!