TRX/USDT Descending Price Channel (Possible Breakout) 4 HR Chart
Hello Friends,
Here today I have noticed on the 4 hour chart the formation of a descending price channel. We entered this channel Jan 27th and have breached this channel a few times, only to fall back into the channel failing to make a change of trend. Looking at the chart pattern of breaches we can see that TRX is due to breach this channel once again and reach towards a target that is equal to the depth of the channel itself. If TRX is able to stay out of this channel for a few days then we will see a new trend.
Details on this chart.
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!
Here today I have noticed on the 4 hour chart the formation of a descending price channel. We entered this channel Jan 27th and have breached this channel a few times, only to fall back into the channel failing to make a change of trend. Looking at the chart pattern of breaches we can see that TRX is due to breach this channel once again and reach towards a target that is equal to the depth of the channel itself. If TRX is able to stay out of this channel for a few days then we will see a new trend.
Details on this chart.
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!