TRXBTC
Time frame -1H
- See that wick that pierced through the .618 fibonacci retracement that came back up again? That's your ticket to the mooon!
- StochRSI is on the oversold level for a few days now.
- We expect an upward movement after that move though there is not yet enough volume from the bulls.
- Immediate resistance is 840/sh level or the .382 fibonacci retracement level.
Conclusion:
For me personally, I will just stand aside and watch how the price will move.
I'd like the price to break and close above the 20 period moving average and .50 fibonacci retracement level.
It's important to CLOSE above that area because that's the sign of strength of the bulls.
And lastly, volume is not yet enough to reverse the immediate trend.
I'll enter the trade above .382 fib level or the 840/sh area.
Goodluck HODLers and Traders!! :)
Comment:
Correction: This is the 4H time frame! :)