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Sep 25, 2018 10:23 AM

Lower High rejection on 1W Channel Down. Pending support test. Short

TRON / DollarBitfinex

Description

TRON rose after completing the 1D H&S pattern but was emphatically rejected at 0.02600 making a Lower High on the 1W Channel Down (RSI = 44.311, MACD = -0.005, Highs/Lows = -0.0042, B/BP = -0.0130). This indicates that the selling pressure is strong and after every dip, buyers rush to take their profit earlier each time. At the same time they feel comfortable buying above the 0.01600 Support and that is the fundamental reason for which it needs to be broken. We remain short on TRXUSD with TP = 0.01410 (December 16, 2017 low).
Comments
vickydaswani
bitcoin midterm overview that everyone must see
OTM.Investments
@vickydaswani, Why you showing us btc charts on a trx chart. 2 different ballparks.
vickydaswani
@InJayWeTrust, sorry if you didnt like it , anyways everything now is correlated to btc
OTM.Investments
@vickydaswani, lol not for long. those days are almost over with.
OTM.Investments
bruh i already told you. it wasnt a head and shoulders lol
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