Almost every altcoin is dropping sharply in last days. Tron is not exception. But when we look on the chart deeply, we can see some bullish sings.
TRX is falling several days and it looked really well, when there was falling wedge building up. We can see that any pattern is not 100-percent.
He moved below the support edge of this pattern and it was already tested, so the price moved down again. But is there chance for reversal?
Maybe. Lets look now for some bullish sings:
First of wall we can see that market is moving near the trendline. The bullish trendline could be good signal but it needs another help.
We can see on the chart strong support area n.1. That's the second one.
The last one is bullish divergence (RSI) on daily or 4H chart.
But that's not everything. We need to see a bounce from this area (the best candle reversal pattern).
The next bullish signal would be the breakout of strong resistance trendline (lower timeframe).
BUY ZONE:
Support zone n.1 (385-365 Satoshi)
TP: Depends on your RRR (could be the resistance trendline of Falling Wedge)
SL: under the support area n.2
This is not investing advice just my point of view. I'm not responsible for your losses. You trade on your own risk.
TRX is falling several days and it looked really well, when there was falling wedge building up. We can see that any pattern is not 100-percent.
He moved below the support edge of this pattern and it was already tested, so the price moved down again. But is there chance for reversal?
Maybe. Lets look now for some bullish sings:
First of wall we can see that market is moving near the trendline. The bullish trendline could be good signal but it needs another help.
We can see on the chart strong support area n.1. That's the second one.
The last one is bullish divergence (RSI) on daily or 4H chart.
But that's not everything. We need to see a bounce from this area (the best candle reversal pattern).
The next bullish signal would be the breakout of strong resistance trendline (lower timeframe).
BUY ZONE:
Support zone n.1 (385-365 Satoshi)
TP: Depends on your RRR (could be the resistance trendline of Falling Wedge)
SL: under the support area n.2
This is not investing advice just my point of view. I'm not responsible for your losses. You trade on your own risk.
We can see nice bullish Divergence.
Wait for reaction near the trendline.