Look at the chart for Tierion (TNTBTC), we can see a very nasty drop; strong down.
But what goes down must go up...
Strong down, can lead to strong up!
The MACD is moving above zero.
The RSI is super strong at 62.
Prices are trading above EMA10 and we are seeing multiple green candles being printed the past few days.
What all these signals are saying...
TNT/BTC Has been consolidating at support for a while, but since yesterday volume has been increasing slightly and it broke above the 50 and 100 EMA.
This could point to a bull run or pump in the next couple of days and with the support's low at only -15%, the stop loss is easy to place.
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TNT has been going through a long period of accumulation.
It has been playing the same level for a while turning it into support.
If it breaks and closes above 385, then the uptrend has been confirm and this will take us to higher levels.
A daily close under 360 will invalidate this. If this happens, I would stay put and wait for better entry or another setup...
Tierion (TNTBTC) is now trading at support... Will it go lower or bounce here?
The last time the current support level was hit TNTBTC grew by 250% in one single candle.
Last's weeks' candle though erased 100% of the gains and prices can still go lower... It all depends on how the "support" level is handled.
Short-term, looking at the 4H timeframe, we can see...
Hi All ! Please Go Through ! It can bleed more !!! cannt even figure which level will be its new depth or support because it didnt hold any of the support of last month, wiped out 650 million $usd in 3 days. More than 70% down from its previous high, and couldnt even recover or bounce back its 15 % is the question mark here... Watch Out
Currently I am looking at this idea and the one I posted just before this and is linked to this idea. Currently I'm liking what I'm seeing, not worried if we dip to the green line, should bounce nicely from there. If we pump from the bottom in my previous idea, I am good with it as well.
I AM NOT A FINANCIAL ADVISER, DO YOUR OWN RESEARCH!