RATE Group | Trade Recommendation: TRON/Ethereum | Hacked: Hacking Finance
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Trade Recommendation: TRON/Ethereum | Hacked: Hacking Finance

17 Aug Trade Recommendation: TRON/Ethereum | Hacked: Hacking Finance

Posted at 17:08h in Ethereum News by

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The cryptocurrency markets, especially altcoins are facing a brutal week. So many pairs are either in oversold or extreme oversold territory. While it may look scary to enter long positions at this point, it’s actually a good idea to be a contrarian. The immense selling in the past few days puts bulls in a good position to annihilate short positions.

In line with that, we believe Bread/Bitcoin (BRD/BTC) is poised for a strong rally.

Technical analysis show that BRD/BTC looks ready to break out of a large falling wedge on the daily chart. Yesterday’s pin bar candlestick supports this assumption. This shows that bottom pickers are buying the support.

In addition, we can see a bullish divergence on the daily RSI. This also affirms the idea that the market is gaining bullish momentum.

Lastly, the pair appears to be at the apex or at least near the apex of the falling wedge. With a bounce underway, bears would be hard-pressed to generate a lower high that’s so…

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