Tron (TRX) If we cannot bounce from current support, drop coming
Tron has seen a 12% drop from its highs due to the price movement of bitcoin, where it got rejected from an important price level. Currently we are hovering at 875 support and 0.786 fib line and have seen a bearish divergence, meaning this is likely the temporary bottom. We need to see a bounce from support or I will be extremely bearish on Tron. The bounce must occur before the 29th.
How to trade:
*Stop Loss:
850 satoshis
Buy in:
880 upon bounce confirmation. Basically if we get a couple green candles and high volume.
Sell targets:
960-1081 satoshi range (recommended target)
1100-1180 satoshi level
1260 satoshi level
1379-1400 satoshi level
Thanks for reading! I will update you as time goes on. I have made a bad move and bought back my position at 923 and sold at 898, as I didn't expect this level of downside. Currently deciding if this trade is for me, since as proven by the test-net, a 30% dump may be looming in the horizon.
Please leave any concerns and your view on TRON in the comments.
How to trade:
*Stop Loss:
850 satoshis
Buy in:
880 upon bounce confirmation. Basically if we get a couple green candles and high volume.
Sell targets:
960-1081 satoshi range (recommended target)
1100-1180 satoshi level
1260 satoshi level
1379-1400 satoshi level
Thanks for reading! I will update you as time goes on. I have made a bad move and bought back my position at 923 and sold at 898, as I didn't expect this level of downside. Currently deciding if this trade is for me, since as proven by the test-net, a 30% dump may be looming in the horizon.
Please leave any concerns and your view on TRON in the comments.
評論:
This is my current view on the 1 hour chart.
評論:
Just going to take a gamble and say we are currently not far from the bottom. First real sign of strength, but we need this to close.
