TRX BTC Update - second support identified around 895
Edit: Second support identified around 895. Should this hold, may signify another attempt at the 950 ceiling, and a strong upward compression with bulls starting to force the market up... Changing to neutral for now, but position will change based upon the resistance at these lower three bands.
Original:
We have now bounced off the 950 twice - at the best case scenario we are looking at a long drawn out bull pendant if the two lower supports stay intact. Worst case scenario we are looking at a bigger drop down should the supports fail to hold.
So far its a war between the bulls and the bears - lots of long tails either side of the candles on the 15 min gap, and this may be enough to kill the momentum upwards now that BTC 1.26% has broken out upwards against the dollar.
Watching this space - pumping and dumping the rise and falls at 15 mins whilst i wait to keep myself occupied - beware though as strong volatility with some crazy wide bollinger bands , so i will be trading marginally below the resistance bands, and watching the candles/indicators to watch for any reversals mid-minitrend...
Sorry Tron 11.11% , but not today....
Opinion not advice.
Original:
We have now bounced off the 950 twice - at the best case scenario we are looking at a long drawn out bull pendant if the two lower supports stay intact. Worst case scenario we are looking at a bigger drop down should the supports fail to hold.
So far its a war between the bulls and the bears - lots of long tails either side of the candles on the 15 min gap, and this may be enough to kill the momentum upwards now that BTC 1.26% has broken out upwards against the dollar.
Watching this space - pumping and dumping the rise and falls at 15 mins whilst i wait to keep myself occupied - beware though as strong volatility with some crazy wide bollinger bands , so i will be trading marginally below the resistance bands, and watching the candles/indicators to watch for any reversals mid-minitrend...
Sorry Tron 11.11% , but not today....
Opinion not advice.
Comment:
Suggest reverting to my original sketch - 895 never stood a chance, and my original trendline then continued nicely as the bears brought the whole dream crashing down lol