See, for TRX, we had a reversal in an important support level, but in my view, we are still without trend since we felt the first resistance in 204 satoshis, if we pass that level I believe that the price can get the next resistance at 250
If a candle closes above 195, it calls my attention to the bulls being stronger.
At any case, 168 satoshis is...
In continuation to our earlier Long Call on TRX BTC dated 19th May 2020 (refer below chart), we continue to be bullish on TRXBTC pair. TRXBTC is quoting 173 sats on BITMEX at the time of writing this and has already moved up around 10% from our entry of 158 sats.
TRX stuck inside a Triangle! (Do Like / Comment on the idea)
TRXBTC has been stuck inside a triangle for long now.
Weekly Chart since 2018:
Daily Chart since 2018:
Daily Chart - Triangle within Triangle since 2019:
4H Chart shows...
Reasons for the purchase.
Divergence on local movement.
Divergence in global movement.
The level is built on a paranormal candle.
Bind the stop loss to the level.
Entry after confirmation.
Or postponed by order.
Push ❤️ if you think this is a useful idea!
Before to trade my ideas make your own analysis.
Thanks for your support!
I have noticed that the three wick low's of the last accumulation zone seems to be practically half the bars (days) to each of the three wick lows in this accumulation zone.
If this plays out, then we will be walking on the moon.
It is a Sh*tcoin, but... Shitcoins do PAMPPUU.
Thanks for reading,
TRX is gaining strength after the price rallied 10% up but currently facing minor resistance because of the descending trend-line force.
If TRX failed to break this line, we could expect a minor pullback and form its new Higher Low then proceed to new High.
The stop-loss is below the low at 168 sats.
TRX broke key trendline of support and currently facing rejection with the 50D MA plus trendline becoming a new resistance area.
If TRX finds this big challenge and unable to get above this level in the coming few days.
It is likely we see further downside down to 130 sats and potentially form a double bottom for a reversal trend change.
On the daily timeframe, it floats near support, the situation is similar to XRPBTC : long here is less risky and looks more reasonable. Stop could be tight.
But need to keep in mind (always) overall market conditions because it could change everything.
Information is just for educational purposes, never financial advice. Always do your own research.
I believe TRX began a trend reversal on September 9, 2019, the date on which the weekly RSI reached the lowest value ever recorded.
The price has possibly began the third of a five wave Elliott formation, which is expected to take the price all the way to the previous breakdown level at 320 satoshis.
The possible creation of an ascending triangle (dashed...
TRX/BTC has created an almost identical five sub-waves on the larger waves 1 and 3.
The extended fifth sub-wave of wave 1 increased to the 1.618 Fib level of wave 4. If the same were to occur now, the fifth wave would go to 285 sats.
The bullish cross between the 50- and 200-day MAs reaffirms the possibility of this increase, and is giving support to the...