TRXUSD; follow the red line
Lower highs and lower lows show bears in full control in this crypto. A well defined downward sloping line connecting recent highs is the line to watch (red line). There are hints however that this market will show a stronger move;
1) A descending triangle
2) RSI still diverging positively
To keep it simple; breakouts out of the triangle set the following goals;
Upside breakout (move over the red line at 0.0338 currently); 0.0540
Downside breakout (move below 0.0310); 0.0110
Ofcourse, the latter would not be a wise trade, one should focus on the first scenario. A break below 0.0310 implies no position (always watch the close).
Just keep track of the red line.
1) A descending triangle
2) RSI still diverging positively
To keep it simple; breakouts out of the triangle set the following goals;
Upside breakout (move over the red line at 0.0338 currently); 0.0540
Downside breakout (move below 0.0310); 0.0110
Ofcourse, the latter would not be a wise trade, one should focus on the first scenario. A break below 0.0310 implies no position (always watch the close).
Just keep track of the red line.
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