TRXBTC
LONG - BTT - Trading IdeaLooking like a breakout is near, after 140 days in downtreand, really feels like the bottom. big volume coming just like the last time it pumped 200%. Really good r/r.
Entry: 0.0004219
TP 1: 0.0004817
TP 2: 0.0006131
TP 3: 0.0008000
SL: 0.0004009
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TRXBTC Trend Change| Higher Lows|Key Resistance ! Hello Traders!
Today’s chart update will be on TRX, 240 timeframe, testing an important resistant level that needs to break to keep the bullish bias. A break from this level will increase the probability of TRX testing structural resistance, which has multiple technical confluences.
Points to consider,
- Confirmed Trend Change
- Support provided by EMA’s
- Key resistance being tested
- Stochastics projected upwards
- RSI trading in upper region
- Healthy Volume
- VPVR cluster showing low volume of transactions
- Structural resistance as next target
TRX has broken its lower low projection and has successfully put in consecutive higher lows as it comes into a key resistance. TRX needs to break this resistance with convincing volume to keep the uptrend intact. Support is currently being provided by the EMA’s which has turned bullish from local lows.
The stochastics is currently trading in the upper region, can stay up here for an extended period of time, however we do have lots of stored momentum to the downside. The RSI on the other hand is respecting its support (red line), bouncing of it multiple times.
Volume is currently healthy, its needs to sustain with bull volume to break resistance, which will also avoid the chances of a false break. The VPVR is showing low volume of transactions from resistance to structural resistance. This signals that this cluster will pose little resistance in terms of volume of transactions, if and when TRX tests.
Structural resistance is the technical target for TRX as this level is in confluence with multiple technical indicators such as the .50 Fibonacci level and the 1.618 Fibonacci Extension.
Overall, In My Opinion, TRX has established an uptrend with consecutive lower highs, the market structure has changed. TRX needs to break current resistance levels in order to keep the bullish bias. Volume is looking very healthy for this break, so we do have a greater probability of breaking resistance and meeting technical target.
What are your thoughts on TRX trend change?
Please leave a like and comment,
And remember,
“If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite
Stripped back naked analysis. Short term.Sweet and simple, just like me.
Only looking at past short term fractals here, married to the fact that this would be an ideal liquidity zone. We have seen 3 previous wicks down, with perfectly the same time scale between each one, the next (if it happens) is looming upon us.
I am already in a long leverage position, though this was entered much earlier.
Good luck.
The Gatekeeper.
TRON Keeps On Growing | Where To Next? | Fib. TargetsTRON (TRXBTC) is on a clear uptrend and continues to grow.
Looking at the last bullish move, it printed a higher high and is showing signals of going further.
EMA10 continues to hold, while EMA100 has been conquered and tested as support.
Where will TRON go to next?
Take a look at EMA200 (0.00000262) or the 1.618 Fib. extension. This is our next and main target.
The blue dashed lines represent the different support levels.
The bulls are fully in control now of TRON and this pair tends to do long steady climb when it starts to move. So expect for the retraces to be short and for the growth to be long.
Namaste.
TRX will be printing more green candles.TRX Daily Chart was not inspiring me, so I zoomed in a little (actually, H4 is my favorite configuration, but i prefer trading Daily trends). So here TRX is in a bull trend from start of September. It is making Higher Highs and Higher Lows, printing a Rising Channel.
210 sats has been an important Support / Resistance before, so I'm watching the price action here, and as usual, close below = bearish, close above = bullish.
The next support to long is around 180 sats and the lowest support is at 140 sats but I don't think it will reach that price anymore.
TRX/BTCKeep it simple!
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
If TRX holds the green box range and respects it as support then we can see TRX test previous resistance levels. If you had bought TRX at green box 1 you should have hit your first and second profit target already, and the trade has been very profitable!
TRX has so far touched the second orange box, retraced and now looks like it may do a re-test of the high. If it cant break above the second orange box range it is likely to come down and hit the second green box (2), where we want to see a strong hold for support.
It is key to note that the boxes are a range - therefore I ladder into my trades, which gives me a better entry and exit price.
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