TRX/BTC, BINANCE, WILL BE A RICH "W.BUFFET" EFFECT? MY SCENARIO
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I'm watching the TRX/BTC pair on Binance and seems like the price is forming a possible Head and Shoulders pattern. It's not so explicit but if the price starts laying on the 0.00000358 BTC zone for a while, then is possible a new strong move.
For this reason i will analize the two scenarios:
1) Bearish Scenario : if the Bears will keep pushing down the price, it could use the 0.00000340 BTC support, more likely in this scenario the support will be broke and so the price will move to the 0.00000310 BTC support zone. In this case a possible come back in price could push TRX to retest the previous support, now as a resistence. Of course the volume now is a very important indicator of the trend.
2) Bullish Scenario : if the H&S will be complited it's possible that the price will move a little bit down in order to test the 0.00000340 BTC support, acting almost as neckline this support will be significant for the next price action. If this level will be held sucessfully for a week, then the price could move up to the "Head" level.
In this case i rapresent a possible trade with high Reward/Risk ratio.
Buy level : 350-358 Satoshis
Stop loss level : 340 Satoshis
Sell level : Highest is 470 Satoshis, with the possibility to do "short trades" close to the Fibonacci levels : 385 Satoshis and 430 Satoshis.
If you like my ideas leave a like or follow me for more updates of the graphs. You can find me also in Twitter.
Whatch a similar idea of Ripple in related ideas section, it's forming inversed H&S ?
This is not financial advice, for illustrative purposes only. Thanks!
For this reason i will analize the two scenarios:
1) Bearish Scenario : if the Bears will keep pushing down the price, it could use the 0.00000340 BTC support, more likely in this scenario the support will be broke and so the price will move to the 0.00000310 BTC support zone. In this case a possible come back in price could push TRX to retest the previous support, now as a resistence. Of course the volume now is a very important indicator of the trend.
2) Bullish Scenario : if the H&S will be complited it's possible that the price will move a little bit down in order to test the 0.00000340 BTC support, acting almost as neckline this support will be significant for the next price action. If this level will be held sucessfully for a week, then the price could move up to the "Head" level.
In this case i rapresent a possible trade with high Reward/Risk ratio.
Buy level : 350-358 Satoshis
Stop loss level : 340 Satoshis
Sell level : Highest is 470 Satoshis, with the possibility to do "short trades" close to the Fibonacci levels : 385 Satoshis and 430 Satoshis.
If you like my ideas leave a like or follow me for more updates of the graphs. You can find me also in Twitter.
Whatch a similar idea of Ripple in related ideas section, it's forming inversed H&S ?
This is not financial advice, for illustrative purposes only. Thanks!
Nota
I want to inform you that the light blue arrows represent the trend of the volume, not of the price, to observe them correctly you must zoom in the graph once.Am I wrong or are we in an accumulation phase? The forecast is still intact.
-- This is not financial advice, for illustrative purposes only. Thanks! --
If you want to see more chart analysis or updates, don't forget to follow me!
You can find me also in Twitter --> @cryptogabri.
Trade attivo
Starting accumlation between 0.00000358-0.00000345 BTC range.Stop loss : around 0.00000330 BTC
1° Take profit : around 0.00000380 BTC
2° Take profit : around 0.00000410 BTC
-- This is not financial advice, for illustrative purposes only. Thanks! --
Give a like <3 if you agree! Or leave a comment for constructive criticism!
If you want to see more chart analysis or updates, don't forget to follow me!
You can find me also in Twitter --> @cryptogabri.
Trade chiuso: stop raggiunto
Stop loss triggered. No clear trend. Waiting for new buy opportunity in the next days, stay update!Maybe a 0.00000315 BTC retest is likely.
-- This is not financial advice, for illustrative purposes only. Thanks! --
Push the like button if you agree! Or leave a comment for question.
If you want to see more chart analysis or updates, don't forget to follow me!
You can find me also in Twitter --> cryptogabri
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