Good Saturday fellow TRXers, this is more of a short-term trade. We are started to form an uptrend after a brutal downtrend, hopefully you shorted on some other exchange. We are in a historic resistance AREA (I dont like using fixed supports and resistances, rather i like to use areas. I believe we are on the way up from here, the RSI is bullishly diverging as you can see here,
and we the histogram is starting to tick up as you can see here with MACD crossover,
First target could be the 607-610 satoshi area (.382 fib retracement) and resistance.
Second target 619 - 627 sats (between .5-.618 fib retracement)
Third Target could be the .786 fib retacement area however, even if we do touch such zone we would bounce right back down from there.
NOTE: This is NOT financial advice, I am NOT a financial adviser NOR do I provide any trade advice. This is just out there for others as a learning experience/opportunity. Once a student ALWAYS a student. Trade at YOUR own risk.
Good day :)
First target could be the 607-610 satoshi area (.382 fib retracement) and resistance.
Second target 619 - 627 sats (between .5-.618 fib retracement)
Third Target could be the .786 fib retacement area however, even if we do touch such zone we would bounce right back down from there.
NOTE: This is NOT financial advice, I am NOT a financial adviser NOR do I provide any trade advice. This is just out there for others as a learning experience/opportunity. Once a student ALWAYS a student. Trade at YOUR own risk.
Good day :)
Comment:
Forgot to mention, there was also a Bullish Harami reversal and this is on the 1 hour chart.