Hit like to get started... if you want to, and allow me to entertain you for a few minutes. Sit back and relax now...
TRON ( TRXBTC ) 12H TF Chart Analysis
- Looking at the chart above, the first signal that we can spot is the pattern, which is a formation, this means that when this pattern is complete it normally breaks to the upside.
- As for the , started to build up and we can see a young crossover... This can lead to a strong breakout.
- Price has been dropping and dropping on declining . There is no good . If this was a move in the making rather than a small correction, we ought to see some more bear but there is none. The bulls are being favored according to the signals coming from this chart.
- The hit oversold and is going flat. These indicators tend to go flat, before curving, and finally breakout.
- Price has retraced all the way back to 0.618 Fib. retracement support from the last wave. If this support does not hold, we can expect support to be found around EMA200 (orange line) before the next move up.
Conditions for change: If TRON ( TRXBTC ) moves down and closes below 0.00000560 with strength and , the above signals become invalid and a new analysis is needed.
If TRXBTC closes below the above level without strength and , we remain and expect a strong bounce and consider the break to had been a fake break down.
My view: TRON ( TRXBTC ) has the potential to break up soon, as there are many signals pointing to this retrace being almost complete.
Thanks a lot for reading.
See it here:
BUY: 0.00000590 – 0.00000635
(Avg. buy-in: 0.00000630)
STOP: Close daily candle below 0.00000550.