TRXUSD; Bullflag?
In the last analyses 0.1000 was suspected before this market backed of. This was indeed the case but the setback shows signs of healthy profit taking on low volume. Also the RSI indicator has relaxed to more neutral levels while the move toward the Bollinger midline sees support. All in all signs that market is searching for a higher low.
Note that the recent pattern could turn out to be a bull flag. A stronger up day on better volume breaking the string of short-term lower highs confirms such an idea. If so, a higher high should be expected. Confirming the bull flag puts a medium term target at around 0.1430.
Note that the recent pattern could turn out to be a bull flag. A stronger up day on better volume breaking the string of short-term lower highs confirms such an idea. If so, a higher high should be expected. Confirming the bull flag puts a medium term target at around 0.1430.
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.