What's up everyone it's the crypto watcher here and today we're going to talk about the TRX/BTC.
So, you know the market has suffered a lot of instability because of FUD, whales etc. Now we can see a slight recovery which mean that we can trust TA.
As you can see the patterns does not lie. You can see that the tend-lines meet each other at the exact same day the BTC started the big bearish move. Although we all wanted to see a different result there are forces that are bigger than us (the common trader) lol.
It seems to be that the bearish BTC made TRX/BTC a head and shoulders patters which relay on the down tend-line but still doesn’t break the support line (0.0000382) which mean that TRX/BTC as a coin has a "strong spine" which the BTC didn’t break.
All we know for now is that as you can see:
Pros:
1. TRX/BTC broke the head and shoulders pattern.
2. TRX/BTC broke the tend-line (finally).
3. TRX/BTC have touched the MA 25 which signals us that if it will break it, we will start see a bullish movement.
Cons:
1. TRX/BTC is still far away from the MA 50 and from the 25th of January this line is blocking the bullish tendency.
2. Volume is too small to make a big change.
3. We have passed most of the big announcement of TRX/BTC but because of the fact BTC was bearish they haven’t made any impact.
Conclusion:
Something is going to happen, I see some bullish signs but who can know, and in my opinion TRX/BTC is undervalued so I call it long till the coin burn at the 31th of March.
For other news and TA join us on Telegram: t.me/CpWrm
So, you know the market has suffered a lot of instability because of FUD, whales etc. Now we can see a slight recovery which mean that we can trust TA.
As you can see the patterns does not lie. You can see that the tend-lines meet each other at the exact same day the BTC started the big bearish move. Although we all wanted to see a different result there are forces that are bigger than us (the common trader) lol.
It seems to be that the bearish BTC made TRX/BTC a head and shoulders patters which relay on the down tend-line but still doesn’t break the support line (0.0000382) which mean that TRX/BTC as a coin has a "strong spine" which the BTC didn’t break.
All we know for now is that as you can see:
Pros:
1. TRX/BTC broke the head and shoulders pattern.
2. TRX/BTC broke the tend-line (finally).
3. TRX/BTC have touched the MA 25 which signals us that if it will break it, we will start see a bullish movement.
Cons:
1. TRX/BTC is still far away from the MA 50 and from the 25th of January this line is blocking the bullish tendency.
2. Volume is too small to make a big change.
3. We have passed most of the big announcement of TRX/BTC but because of the fact BTC was bearish they haven’t made any impact.
Conclusion:
Something is going to happen, I see some bullish signs but who can know, and in my opinion TRX/BTC is undervalued so I call it long till the coin burn at the 31th of March.
For other news and TA join us on Telegram: t.me/CpWrm