TRX quickly approaching another apex?

16 avr. 2018

It looks like TRX moved upwards out of the ascending triangle that I mentioned (tradingview.com/chart/TRXBTC/wQGXznKs-TRX-looking-to-make-a-move-at-this-apex/). We're now in a (symmetrical?) triangle. My expectation is that the bottom support trend will continue to hold strong (making 510-511 sats our new soft bottom, which will gradually increase from here - until we reach the apex); this is based on the upcoming fundamental news for TRX, as well as strength this support has shown so far (coupled with the gradually increasing OBV and overall volume).

16 avr. 2018

Note

TRX dropped below the lower trend line (to a low of 508), which I put down to BTC's drop from ~8050 to ~7920. I expect TRX will bounce back above the lower trend line just as soon as BTC goes sideways or upwards again.

BTC may drop as low as 7500; in which case, I'd expect TRX to continue downards (maybe sub 500), although this would be temporary!

16 avr. 2018

Note

BTC held strong around ~7900 and TRX did the same from around 507-510. On low timeframes it looks like we're just under the old symmetrical triangle, still sticking to the lower trend line (which may now be resistance instead of support). However, if you check higher timeframes (e.g., 4H and Daily), then we're actually still in the symmetrical triangle and never left!



I'm expecting upward movement from here still.