TRX Bouncing around!
Updated
TRX has been moving in a horizontal channel for quite some time.
Currently sitting at Daily trend support ( green line). If this support can hold strong and firm we can expect to see a test in resistance cluster.
Be aware of bull traps and bear traps. TRX seems to be a very risky play for margin/leverage traders.
4H closure below $0.02629 critical support will lead us into a bearish continuation phase.
4H closure above 0.03338 would lead us to test next weekly horizontal resistance clusters at 0.03671
Currently sitting at Daily trend support ( green line). If this support can hold strong and firm we can expect to see a test in resistance cluster.
Be aware of bull traps and bear traps. TRX seems to be a very risky play for margin/leverage traders.
4H closure below $0.02629 critical support will lead us into a bearish continuation phase.
4H closure above 0.03338 would lead us to test next weekly horizontal resistance clusters at 0.03671
Note
As I mentioned about the traps.Futures positions are risky with volatile pairs like this.
The candle has closed below the daily trend support. Followed by a 50%+ increase .
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