TRXBTC - Daily Descending Wedge in formation.
ที่อัปเดต:
Hello!
Today, TRXBTC experienced a healthy correction, the last pattern that we were monitoring (tradingview.com/chart/TRXBTC/npA9F2Z8-TRXBTC-Breakout-incoming/) followed one of the scenarios we've pointed out.
We can see some interesting things going on with TRXBTC daily chart. First, we can see that a Descending Wedge is in formation, also, we were able to find support on the 26 MA. Along with all that, we can see that the Stoch RSI shows us that the selling momentum is almost over, but a move to the downside in the coming couple days is not completely out of the cards.
The best scenario to expect here is a consolidation period happening inside the descending wedge, and hopefully, if we can get enough volume, we can expect a break to the upside, out of that descending wedge. The first Resistance Zone to watch here is around 870 satoshis, but if we get volume we we'll break right through that.
And, if the bearish scenario plays out, we can expect a move to the next support zone coinciding with the 50 MA, which is around the 680 - 710 satoshis.
It it worth mentioning that BTC plays a fundamental role in this market, as it usually dictates the general tone of the market.
Thanks!
Today, TRXBTC experienced a healthy correction, the last pattern that we were monitoring (tradingview.com/chart/TRXBTC/npA9F2Z8-TRXBTC-Breakout-incoming/) followed one of the scenarios we've pointed out.
We can see some interesting things going on with TRXBTC daily chart. First, we can see that a Descending Wedge is in formation, also, we were able to find support on the 26 MA. Along with all that, we can see that the Stoch RSI shows us that the selling momentum is almost over, but a move to the downside in the coming couple days is not completely out of the cards.
The best scenario to expect here is a consolidation period happening inside the descending wedge, and hopefully, if we can get enough volume, we can expect a break to the upside, out of that descending wedge. The first Resistance Zone to watch here is around 870 satoshis, but if we get volume we we'll break right through that.
And, if the bearish scenario plays out, we can expect a move to the next support zone coinciding with the 50 MA, which is around the 680 - 710 satoshis.
It it worth mentioning that BTC plays a fundamental role in this market, as it usually dictates the general tone of the market.
Thanks!
บันทึก
An updated version of the chart!
What I said before still counts :)
ปิดการเทรด: ถึงเป้าหมายการทำกำไร
Hello!We have reached our target of 870 satoshis! Great to see that our analysis has developed in a good way.
Now, the next thing to hope for is for Tron to break the strong resistance at 870 satoshis so we can test higher levels of resistance. I'll keep you guys updated with more analysis throughout the week.
Thanks!
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