MagicPoopCannon

The Bishop Don Juan Magic TRON!!! (TRX/BTC) =D

BINANCE:TRXBTC   TRX/BTC
Hi friends! Welcome to this analysis on Tron! Let's jump right in! Looking at the four hour TRX/BTC             chart, we can immediately see how important the 50 EMA (in orange) has been for Tron             . After the rally to the all time high, we can see that Tron             corrected below the 61.8% retracement level, to an area just above the 50 EMA , on three different occasions (held.) Shortly after the third hold, we can see that price action pushed below the 50 EMA , and began defining it as overhead resistance (fail.) As you can see, there have been four failed attempts to break above the 50 EMA . We will have to pay close attention to the 50 EMA going forward, to see how Tron             reacts. Tron             is currently testing the recent (Support) level, as it consolidates in a mostly sideways trading range. A break below the red support level , will likely send Tron             down to the 78.6% retrace, around 625. Below that, it will likely fall to the 200 EMA (in purple,) around 550. The bulls need to get back above the 50 EMA , and begin forming higher highs (above 950,) for a bullish reversal to be confirmed. This has been your friendly market legend — MPC! Please follow, comment, like, and share on social media.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-
lol
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Finally a true TA. This is the most realistic expectation for traders. Every Trader on Trading View for TRX rn using solely 'bull flags'.
+2 回覆
MagicPoopCannon TOP ZacharyNickerson
@ZacharyNickerson, I'm glad you've enjoyed my analysis! Stick with me, my friend. I will be your guiding light. =D
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LEts break that orange line!
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