By examining the H8 chart of TRX/BTC, we can see how the pair has moved to the downside after placing the significant high of 0.00001012 on May 26.
Indeed, today’s closing is to important as TRX (know also as TRON vs. Bitcoin) started to show some kind of strength following the re-test of the rising trend line that connected the movements during the previous 72 days along with oversold sign appearing on RSI14.
One of our favorite indicators is the CM market tops & bottoms reflects the traders’ attempts to stop the bearishness started at the afore-mentioned high.
To summarize this, we do believe that TRX/BTC is on its way to move upwards aiming to re-test the high if it succeeds in breaching the resistance of 0.00000890.
Conversely, the bullish trendline should protect bulls and should act as a stop loss for this promising long setup.