TRON / BitcoinUpdated TRX: Fan speedlines and channels.
This is just an update about TRXBTC and my view about it.
Here we've got a major growth channel (yellow lines) and a minor decay channel (white lines) - the thing is: we are inside both. I've applied fan lines where its channel lines origin (zoom out and you can see it) to see the speedlines. That's how it goes: if the 1/2 uptrend fan speedline have been broken, it'll go up, if the 1/1 uptrend fan speedline have been broken, down we'll go. Same logic to the downtrend fan speedlines.
Interesting enough, both 1/2 and 2/1 couldn't be broke in this downtrend (it broke the 1/2 in the uptrend but it has stopped at the 1/3!). Right now here going towards the 1/1 speedline and at this rate we'll reach it @ 540 satoshis so set your stop-loss there.
If it bounces, we'll retest the 2/1 speedline. If it doesn't... well, I don't need to say it :(
Hard times these days. Trade safe!
Here we've got a major growth channel (yellow lines) and a minor decay channel (white lines) - the thing is: we are inside both. I've applied fan lines where its channel lines origin (zoom out and you can see it) to see the speedlines. That's how it goes: if the 1/2 uptrend fan speedline have been broken, it'll go up, if the 1/1 uptrend fan speedline have been broken, down we'll go. Same logic to the downtrend fan speedlines.
Interesting enough, both 1/2 and 2/1 couldn't be broke in this downtrend (it broke the 1/2 in the uptrend but it has stopped at the 1/3!). Right now here going towards the 1/1 speedline and at this rate we'll reach it @ 540 satoshis so set your stop-loss there.
If it bounces, we'll retest the 2/1 speedline. If it doesn't... well, I don't need to say it :(
Hard times these days. Trade safe!
Note
Right on track!Note
Note
This blue polygon is your ruler - if it breaks down, say goodbye... if it doesn't, boom.Note
Not a lot of movement this past day.. preparing for something?Note
Dropping to 564 satoshis any time soon.Note
It's time.Trade closed: stop reached
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.