TRBUSDT Macro Analysis Thursday Sep14 2023
TRBUSDT could retst a minor resistance level at 40-45zone.
The next over head resistance is at 80-100.
The good news is that it is above the M21ema late in the bear cycle. The breakout may not be a fakeout. COuld be a new macro trend if it stays above the M21ema
Also the support at 0.618fib, 7.5-6.5 held perfectly well.
Based on EW, if it does not retrace below 7 support, 1:1 projection of the last bull run will be at 1000-1100
A good condition for the EW to potential work would if it could stay above the M21ema for the rest of the year.
TRBUSDT could retst a minor resistance level at 40-45zone.
The next over head resistance is at 80-100.
The good news is that it is above the M21ema late in the bear cycle. The breakout may not be a fakeout. COuld be a new macro trend if it stays above the M21ema
Also the support at 0.618fib, 7.5-6.5 held perfectly well.
Based on EW, if it does not retrace below 7 support, 1:1 projection of the last bull run will be at 1000-1100
A good condition for the EW to potential work would if it could stay above the M21ema for the rest of the year.
