TRB/USDT looking very interestin!Good morning guys,
We see a great opportunity for this coin names TRB. So what is this TRB? Tellor or TRB is a decentralized oracle protocol. Oracles are a key part of blockchain infrastructure that update valuable off-chain data, making it available for on-chain smart contracts. Here we are.... After few weeks ago when we had a breakout from $16 zone it just rallied up towards $38 zone where is has stopped for now.
As always Breaking from here would mean a massive bullish wicks and breaking down from here would mean going back to this sideways path it tries to exit at the moment.
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TRBUSDT trade ideas
TRBUSDT - Long by Supertrend, Pivot & ADX 8/11/20221. HIGH/LOW PIVOT:
- Pivot Left: 10 | Pivot Right: 10
Long trend identification:
- Higher High occurs after Higher Low.
2. ADX INDICATOR: 1h & 4h timeframe have a strong strength for open trade.
- ADX smoothing: 14.
- DI length: 14.
- ADX STRONG > 25.
3. SUPERTREND INDICATOR:
- Long trend when closes candle is above the green line.
4. OPEN POSITION RULE:
- BUY/LONG: reject to Supertrend at current timeframe.
TRBUSDT | BEARISH SIGNSTRBUSDT has been trading in a bullish parallel channel . The price with in a bullish channel was trading with in a defined range of support and resistance . Now it has broken support and trading below the support zone . We are expecting price will took a beat from broken support now act as resistance zone .
The bulls need to break above the broken support. While bears will be active below the bullish channel .
Manage your trades accordingly.
Short TRBTRB can't break this double top with all the bearish indicators suggesting a reversal. TRB is at a strong Fib level on the daily timeframe. A Wave 5 impulse at the top of a strong resistance are solid shorts to take. I highlighted the Wave A target based off Fib levels (lower time-frame fibs) as well.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
TRBUSDT | HIT RESISTANCE ZONETRBUSDT has hit the upper boundary of channel, Which is a horizontal resistance zone. The price action took a beat from that resistance zone.
We are expecting a downfall of price from resistance zone towards it support zone. The bears will take control from resistance zone. While bulls will be only in party if price closed above falling resistance line.
Trade your levels accordingly.