After being down in the dirt for so long TRXBTC may be showing bullish signs for a potential reversal!
Slowly but surely TRX has been building an upwards channel which is now looking like it is turning into a higher TF ascending triangle pattern.
IDEAL bull entries would be break of triangle before re-testing to confirm support at 200SAT level. If strong support is shown will be looking at candlestick formations to enter off bullish engulfing candles on 4HR TF.
Short term play is also possible if Darvis box is formed for internal trend trading.
TP's once triangle is broken, we would be looking at previous structure, TP's at 215, 226, 235 with final TP at 260 for full retracement.
If full retracement occurs, cup & handle formation may be a possibility for longer term bullish play.
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Nice chart and I am agreeing with the approach here as well! Can I suggest you increase the transparency of the band's or change their color to one that is not so similar to price as it is hard to see how price reacts with the levels you are identifying. :)
Irezumi
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@AlphaBotSystem, Thanks for the suggestion ! I was considering taking the BB completely off for these types of chart analysis's since they make it abit too messy haha!
AlphaBotSystem
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@Irezumi, If that was what you were thinking then Yes I would suggest that instead. :D