TRXBTC- Short Term Downtrend is Likely

Hi guys, it seems like we're starting to show signs of bearish, albeit short term in nature.

-It looks like a double top is starting to form.

-Further confirmation of a downtrend is provided by the rising wedge we've broken to the downside of.

-Stoch RSI is coming off of being overbought, so I definitely could imagine some sell offs occurring soon.

-The base of the double top is around 710 satoshis, so if we break below that, definitely look for some more movement to the downside.

I'm still VERY bullish on this coin, so I've only sold 20% of my holdings at the moment. I intend to buy at each target, sell off 20%, rinse, and repeat. This will ensure that I continue to accumulate without fear of wiping out my holdings.

TP 1: 725 Satoshis
TP 2: 682 Satoshis
TP 3: 647 Satoshis
TP 4: 612 Satoshis

Good luck, trade safe!

Bình luận:

Be cautious about this idea, please. It appears like it didn't want to form the double top, so it might head up, but it seems to be consolidating quite a bit, along with volume, so I could still see a dive happening. Either way, don't sell your whole portfolio, or you'll regret it IMO.

Bình luận:

notice the falling wedge that we broke up out of, so it's showing a hint at some bullishness still.