TRON! Bear market is almost over!
Hello Traders,
After the release of mainnet on June 30th, Tron have been in the bear market for almost a month and half now, and I start to see the sign of recovery.
Looking at the daily chart for Tron, I see that Tron is finishing ABC correction wave and also looking for the double bottom formation. Personally, I still think that we will see some selling pressure next couple days in order to reinforce the idea of the double bottom formation. The entry point will be somewhere 380-400 Satoshi. I also see the bullish divergegnce in both MACD and RSI so we should expect change in trend from bear to bull in near future. However, my view will be invalidated if it goes below 380 Satoshi.
The orange down trend line has been acting a resistance for more than 8 months, and I expect it to be a resistance again this time around if we see a reversal. Therefore I will sell my partial position when it hits that orange line as there may be a possibility of ABCDE correction wave. Regardless, there will be at least 40% profit to be made in this trade as long as we see a trend reversal.
Keep you guys updated and happy trading!
After the release of mainnet on June 30th, Tron have been in the bear market for almost a month and half now, and I start to see the sign of recovery.
Looking at the daily chart for Tron, I see that Tron is finishing ABC correction wave and also looking for the double bottom formation. Personally, I still think that we will see some selling pressure next couple days in order to reinforce the idea of the double bottom formation. The entry point will be somewhere 380-400 Satoshi. I also see the bullish divergegnce in both MACD and RSI so we should expect change in trend from bear to bull in near future. However, my view will be invalidated if it goes below 380 Satoshi.
The orange down trend line has been acting a resistance for more than 8 months, and I expect it to be a resistance again this time around if we see a reversal. Therefore I will sell my partial position when it hits that orange line as there may be a possibility of ABCDE correction wave. Regardless, there will be at least 40% profit to be made in this trade as long as we see a trend reversal.
Keep you guys updated and happy trading!
註釋
Entering my initial buy zone. Here is my strategy
400-405 Sats: buy 25% of your capital
380 Sats: buy 50% of remaining capital
340 Sats: buy 100% of remaining capital
There is MACD and RSI bullish divergence. Reversal is near.
註釋
My second buying order went through at 382 Satoshi.Let's see if it goes to 340 Sats!
註釋
Bears tried to push the price down, but Tron defended 380 Satoshi very well. Tron just broke key resistances (arrows) and lets see if 400 Satoshi can act as a good support in 1 hour chart. There is an overhead minor resistance around 409 Sats, and major resistance around 435-445 Satoshi range. 註釋
My 3rd buying order went through. If Tron cannot hold on at this level, Next support is 200 Satoshi.
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