#tron break below 20DMA, still #trx in primary uptrend #crypto
#Tron has broken below the 20DMA support at 870sats after yesterday's close too below the 870 level, hence confirming the break.
Currently #trx is being supported by the 50DMA and 38.2fib support level at 790sats.
Still we are in a primary uptrend as indicated by the cloud, which is providing support.
Ts(conversion-line)at 902sats moved above Ks(base-line) at 866sats after the Cup& handle breakout in 1H time frame.
However, price has fallen below the Ks now, indicating short-term oversold conditions within a bigger uptrend, as seen by the pullback move from #tron,
This situation tells us that the uptrend momentum has faded
If we get today's closing above the 790 sats level then we can expect a bounce off these levels and consecutively #trx moving above Ks, that will indicate that the momentum is good now.
#trx moves above cloud then it'll give another bullish signal, indicating that the primary uptrend is intact and Potential Target levels as per cup&handle in 1D t-f can be achieved:
T1: 1130sats
T2:1320sats
Currently #trx is being supported by the 50DMA and 38.2fib support level at 790sats.
Still we are in a primary uptrend as indicated by the cloud, which is providing support.
Ts(conversion-line)at 902sats moved above Ks(base-line) at 866sats after the Cup& handle breakout in 1H time frame.
However, price has fallen below the Ks now, indicating short-term oversold conditions within a bigger uptrend, as seen by the pullback move from #tron,
This situation tells us that the uptrend momentum has faded
If we get today's closing above the 790 sats level then we can expect a bounce off these levels and consecutively #trx moving above Ks, that will indicate that the momentum is good now.
#trx moves above cloud then it'll give another bullish signal, indicating that the primary uptrend is intact and Potential Target levels as per cup&handle in 1D t-f can be achieved:
T1: 1130sats
T2:1320sats
Commentaire:
KS stands for kijun-sen(Base line) its like a 26 period ma, but slightly different formulas to calculate it. TS is tenkan-sen(conversion-line) like a 9 period ma. They act similar to ma crossover strategy and also act as support & resistance levels for the price.
Commentaire:
#tron managed to close above 790sats support level, now we are seeing some nice trend action, #trx trying to break above 20DMA & cloud resistance
Commentaire:
Commentaire:
Forgot to mention, C wave in the ZIg-ZIg correction shown above, is an ending diagonal.
