Hello Friends,
I thought that today I would zoom out on the weekly and put a coat of gaze on it. I gazed, pondered, smoked many cigarettes and thought well on what I was seeing. What I come to realize was that I was looking at this inverted head and shoulders pattern in the making. We can obviously see that TRX has been making it's way up from its ATL. Additionally there is more buyers vs sellers depth wise, in other words, there is more cash vs TRX holders. On the daily chart, it looks as if TRX has bounced off the 100 day EMA and we are seeing a green candle on the daily with a RSI that is oversold. The good news is that the 3 has crossed the 14 indicating a buy signal. I assume to see a bullish move after closing today because of where we are at; in the green nearing the close of the day. If it goes sideways, then we shall live to fight another day.
The rest of the details are on the 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!
I thought that today I would zoom out on the weekly and put a coat of gaze on it. I gazed, pondered, smoked many cigarettes and thought well on what I was seeing. What I come to realize was that I was looking at this inverted head and shoulders pattern in the making. We can obviously see that TRX has been making it's way up from its ATL. Additionally there is more buyers vs sellers depth wise, in other words, there is more cash vs TRX holders. On the daily chart, it looks as if TRX has bounced off the 100 day EMA and we are seeing a green candle on the daily with a RSI that is oversold. The good news is that the 3 has crossed the 14 indicating a buy signal. I assume to see a bullish move after closing today because of where we are at; in the green nearing the close of the day. If it goes sideways, then we shall live to fight another day.
The rest of the details are on the 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!
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