TRX Tightening on the 4HR

26 בספט׳ 2018

For the last 32 hours or so TRX has been getting tighter and tighter on the 4hr charts.

4HR Support: 314 sats

4HR Resistance: 333 sats

Volume: Flat

RSI: 51----Neutral and climbing

On the 4HR we are trying to pierce above both the 12 and 26 period EMA's.

We are still maintaining higher lows on the weekly but we are still a ways from breaking the weekly downtrend. In my estimation we must at least get to 585 sats to 600 psychological for a trend reversal.

While the range is tightening the overall crypto space is still bearish as long as BTC remains in it's weekly downtrend there is no reason for me to do anything here but watch. Should BTC bounce a bit I could see this range breaking bullish but do not anticipate anything more than maybe a bounce to maybe 345-350 sats. Not worth the risk in my opinion. For now I will watch and wait.