Experimenting with a new format.
Volume is drying up
We have fallen below the 21 EMA and it appears to be acting as resistance.
Failing to hold the 50 would see us drop to the 100 which lines up with 0.618 fib retracement, where I expect to see a bounce. If not;
down to the 200 which should line up with the 0.786-0.833 money box, I expect...
If you've been holding, I would suggest to start scaling out now.
I am not predicting the exact path, many coins hit this 4.236 fib level extended from the initial volume spike and impulse move.
A second high and RSI divergence
Then a giant engulfing candle.
Today we are looking at Tron vs Bitcoin (TRX/BTC)
As you may have noticed TRX has been performing quite well in the recent weeks. The fundamentals say it is because of the Bit Torrent Free airdrop, ie, those that held TRX will get free BTT .... funny how these things are created out of thin air and sold for value ..... and crypto nerds hate fiat ......
I'm a novice to TA, however I see a descending wedge falling to a support trend line which also happens to be the 200 day MA. The last time this happened we saw a pretty substantial breakout
Agree/disagree please share your opinion