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AlanSantana
May 11, 2020 2:17 PM

TRON vs TetherUS Now Bearish, Why? Short

TRON / TetherUSBinance

Description

Let's take a look at TRON vs TetherUS (TRXUSDT) on the daily timeframe, the bears are now taking control of this chart.

TRXUSDT was looking strong while trading above MA200 (black line).
It was consolidating sideways (red rectangle) and suddenly dropped breaking all support.

Prices dropped below MA200, EMA10, and finally closed the day yesterday below EMA50/EMA100.

Now that prices are below these lines, we take it as a signal that the bears are gaining the upper hand.

Prices can easily drop some more here.

This is not financial advice.

Namaste.
Comments
Pro_Trader_HTBB
This rising wedge is invalid. If you put the fib retracement up you will see why.
Pro_Trader_HTBB
I should say it is not invalid totally but it is more chance of a false signal when in this situation.
jamalmumtaz
thanks for the analysis <3
m1h2d3i
Nice...
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