Hello Friends,
Looking at the 8hr chart, we can see a MACD bullish divergence. Same pattern as last breakout. Only difference is, instead of a hammer candle signalling the last breakout, we have a bullish candle "the piercing line" on the 1 day chart. The 1 day also shows us oversold conditions on the RSI along with a a MACD bullish divergence. The 8hr chart is also giving the same signals as the 1 day, the only difference between the two is: the RSI and MACD has curled upward signalling a buy opportunity. On another note, support has been very positive with consistent ascent leaving a trail of higher lows, however be careful to watch out for the possible H&S pattern to completed itself within this channel...watch that neckline.
Since Dec 16th we have been trading within a new trend and Jan 22nd we saw the 50 EMA crossing over the 100 EMA. It also appears that the 200 EMA has now become support which means that we shall soon see the 50 and 100 cross over the 200 EMA. This will be great news because that will mean that the bear market will be officially over for TRON.
As interest develops in a bull market, we can expect to see all time highs happen once the bear market is officially over with. Remember that this space is new and once the bull market kicks in, we will see institutions, industry, governments and finally the general public join this space. We are talking big $$$.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
Looking at the 8hr chart, we can see a MACD bullish divergence. Same pattern as last breakout. Only difference is, instead of a hammer candle signalling the last breakout, we have a bullish candle "the piercing line" on the 1 day chart. The 1 day also shows us oversold conditions on the RSI along with a a MACD bullish divergence. The 8hr chart is also giving the same signals as the 1 day, the only difference between the two is: the RSI and MACD has curled upward signalling a buy opportunity. On another note, support has been very positive with consistent ascent leaving a trail of higher lows, however be careful to watch out for the possible H&S pattern to completed itself within this channel...watch that neckline.
Since Dec 16th we have been trading within a new trend and Jan 22nd we saw the 50 EMA crossing over the 100 EMA. It also appears that the 200 EMA has now become support which means that we shall soon see the 50 and 100 cross over the 200 EMA. This will be great news because that will mean that the bear market will be officially over for TRON.
As interest develops in a bull market, we can expect to see all time highs happen once the bear market is officially over with. Remember that this space is new and once the bull market kicks in, we will see institutions, industry, governments and finally the general public join this space. We are talking big $$$.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!