Good Saturday fellow TRXers, this is more of a short-term trade. We are started to form an uptrend after a brutal downtrend, hopefully you shorted on some other exchange. We are in a historic resistance AREA (I dont like using fixed supports and resistances, rather i like to use areas. I believe we are on the way up from here, the RSI is bullishly diverging as you can see here,
First target could be the 607-610 satoshi area (.382 fib retracement) and resistance.
Second target 619 - 627 sats (between .5-.618 fib retracement)
Third Target could be the .786 fib retacement area however, even if we do touch such zone we would bounce right back down from there.
NOTE: This is NOT financial advice, I am NOT a financial adviser NOR do I provide any trade advice. This is just out there for others as a learning experience/opportunity. Once a student ALWAYS a student. Trade at YOUR own risk.
Good day :)
and we the histogram is starting to tick up as you can see here with MACD crossover,
First target could be the 607-610 satoshi area (.382 fib retracement) and resistance.
Second target 619 - 627 sats (between .5-.618 fib retracement)
Third Target could be the .786 fib retacement area however, even if we do touch such zone we would bounce right back down from there.
NOTE: This is NOT financial advice, I am NOT a financial adviser NOR do I provide any trade advice. This is just out there for others as a learning experience/opportunity. Once a student ALWAYS a student. Trade at YOUR own risk.
Good day :)
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Forgot to mention, there was also a Bullish Harami reversal and this is on the 1 hour chart.