Is TRX looking good ? (TRON/BTC)
I would wait until we clearly exit this descending channel, if I wanted a really safe trade.
But if we want to maximise profits, I'd look at divergences in the indicators.
RSI is not looking too overbought, so it's a good sign for buyers. And look how the rsi is looking up just now.
My Parabolic SAR indicator reverse a few days ago, had a pullback, but it's looking like bouncing on this support being created.
On the 4 hours chart, a nice ascending channel is forming. With last's week price action, it made a solid triple bottom.
Another indicator that I find super strong is the combo of Donchian channels and Tilson T3 line.
And finally, as a counter argument to all these bullish indicators, I'd keep an eye on Bitcoin which is showing a huge Head and Shoulders, and we know that when Bitcoin collapses, alts tend to collapse aswell, we'll see.
As a last word, I want to say that TA cannot predict the future. It's a game of probabilities and hopes of the past repeating himself. I specialize in automated strategies, so my TA may not be very good, but someone requested BINANCE:TRXBTC analysis so there you go.
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