WeTrust (TRST) Hidden bullish divergence: let's go!
Updated
We Trust is a solid coin/project. They have a live solution on the ethereum blockchain since january 2018 and sofar they lived up to their roadmap like clockwork. Vitalik Buterin (founder of ethereum) is one of their advisors. On the chart you see a downtrend based on weekly candles and transferred to the daily chart, the same goes for the horizontal resistance (weekly -> daily).
The two previous lower highs in price, were accompanied by higher highs in the rsi-indictor: hidden bearish divergence, which was followed by a significant drop. When the drop stopped a higher low in price was painted, but a lower low in the RSI-indicator: hidden bullish divergence!
Expect price to bounce from here to at least the horizontal resistance or the former swing point high (green box).
Also notice the lower end of the downward channel is trending below zero! So at some point Trust has to leave the current channel on the upside!
The two previous lower highs in price, were accompanied by higher highs in the rsi-indictor: hidden bearish divergence, which was followed by a significant drop. When the drop stopped a higher low in price was painted, but a lower low in the RSI-indicator: hidden bullish divergence!
Expect price to bounce from here to at least the horizontal resistance or the former swing point high (green box).
Also notice the lower end of the downward channel is trending below zero! So at some point Trust has to leave the current channel on the upside!
Comment
Allthough the divergence can be striked, things still look good. Shortterm uptrending support was broken and can be replaced by horizontal support, also notice how the indicator entered oversold territory and nicely curled up.
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