TRXUSD - chart for me, no short if bottom rides purple line
the moving average sits towards a weak support. however, riding the support could see it through many strong long and short term downwards trend-lines that are trying to keep trx in some degree of a bear market. breaking through majority downwards trending pressure by following recent uptrend could mean TRX to meet with upper FBB around Jan 25 at near .041 somewhere in the light blue ascension channel.
it is likely downwards pressure will see this wave back down along the bold yellow line within the lower fib zone sometime in March at around .019. However, I believe trx is undervalued still as a platform, and while we may see hesitation to ascend within the blue channel, i am optimistic that it will remain ascending in the purple.
this is speculation looking at fib, moving averages, multiple historical trends providing directional pressure, as well as my own judgement about the value of the company. the bull has more work to do than the bear, but I'm not shorting, I don't expect to see prices under .022 unless FUD sets in from a some major event.
this analysis is here for me as I learn more about market analysis, so I have a record of my exercises. don't take it as investment advice.
it is likely downwards pressure will see this wave back down along the bold yellow line within the lower fib zone sometime in March at around .019. However, I believe trx is undervalued still as a platform, and while we may see hesitation to ascend within the blue channel, i am optimistic that it will remain ascending in the purple.
this is speculation looking at fib, moving averages, multiple historical trends providing directional pressure, as well as my own judgement about the value of the company. the bull has more work to do than the bear, but I'm not shorting, I don't expect to see prices under .022 unless FUD sets in from a some major event.
this analysis is here for me as I learn more about market analysis, so I have a record of my exercises. don't take it as investment advice.
Comment:
"uptrend could mean TRX to meet with upper FBB around Jan 25 at near .041 somewhere in the light blue ascension channel." < most extreme. likely to meet after the date at a lower price as the FBB moves down.