Over the course of the last ~1.5 years, TRX has been forming a massive bearish triangle pattern . Bearish triangles classically break bearish , so that's what we're going to look at today. With TRX recently showing signs of reversing from the pattern's resistance, a bearish move is becoming more likely.
Wait for the break of the lowest purple support before scouting an entry.
Since the support has been holding for so long, a break of said support can lead to a massive sell-off because of all the stop-losses below it. Targets in blue.
Wait for the break of the lowest purple support before scouting an entry.
Since the support has been holding for so long, a break of said support can lead to a massive sell-off because of all the stop-losses below it. Targets in blue.
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