TRON / BitcoinLong
TRX/BTC ready for 300 sats?
Welcome fellow Tradingviewers,
The infamous TRX Sh*tcoin, no matter what you think about this coin, when oppurtunity arises you act by it.
Without further or due, lets start analysing:
We will be analysing TRX using a top-down strategy, including candlestick patterns, indicators and price patterns.
Monthly:
- The October monthly close gave the first Buy signal.
- The last monthly close was neutral and this one is starting to look like a bullish engulfing candle, indicating more upside momentum
Weekly:
- The last weekly candle closed in a bullish engulfing candle, indicating more upside.
- The last weekly candle did not manage to close high enough to break the neckline of the Cup & Handle pattern, if this week gets it done, then more upside momentum is expected.
- MACD has crossed bullish, indicating more upside momentum.
- RSI is still neutral.
Daily:
- The last daily candle had a huge wick to the downside, indicating more upside momentum.
- It looks like the Neckline of this possible C & H pattern has been tested with absolute precision and bounced back, indicating more upside.
- MACD is in bullish territory, indicating more upside momentum.
- RSI is in neutral.
- Currently battling the 230-240 sats area
In summary:
We can clearly see that the bulls are trying to let TRX take off but it is not yet confirmed. A daily close above the 230-240 zone would let me believe that the C&H is in play and that we could start to head towards the 280-300 sats area.
This analyses is only intended to share my idea, to educate and entertain you guys.
This should not be considered as financial advice.
I hope you guys enjoyed this analyses, if you did don't forget to leave a Like!
If you want to share your thoughts, please do so in the comments below!
Kind Regards,
FORALLCRYPTO
The infamous TRX Sh*tcoin, no matter what you think about this coin, when oppurtunity arises you act by it.
Without further or due, lets start analysing:
We will be analysing TRX using a top-down strategy, including candlestick patterns, indicators and price patterns.
Monthly:
- The October monthly close gave the first Buy signal.
- The last monthly close was neutral and this one is starting to look like a bullish engulfing candle, indicating more upside momentum
Weekly:
- The last weekly candle closed in a bullish engulfing candle, indicating more upside.
- The last weekly candle did not manage to close high enough to break the neckline of the Cup & Handle pattern, if this week gets it done, then more upside momentum is expected.
- MACD has crossed bullish, indicating more upside momentum.
- RSI is still neutral.
Daily:
- The last daily candle had a huge wick to the downside, indicating more upside momentum.
- It looks like the Neckline of this possible C & H pattern has been tested with absolute precision and bounced back, indicating more upside.
- MACD is in bullish territory, indicating more upside momentum.
- RSI is in neutral.
- Currently battling the 230-240 sats area
In summary:
We can clearly see that the bulls are trying to let TRX take off but it is not yet confirmed. A daily close above the 230-240 zone would let me believe that the C&H is in play and that we could start to head towards the 280-300 sats area.
This analyses is only intended to share my idea, to educate and entertain you guys.
This should not be considered as financial advice.
I hope you guys enjoyed this analyses, if you did don't forget to leave a Like!
If you want to share your thoughts, please do so in the comments below!
Kind Regards,
FORALLCRYPTO
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.