TRON / BitcoinLong
Tron, stronger than expected by most.
Updated
The last 24 hours the Tron team and the Tron believers/community has been actively trying to dispel the fud surrounding it. As can been seen they are doing a great job at it and it looks like we are going up again. This looks like a stronger coin than a lot of people expected.
Although cryptos have been around for some time now, we are still witnessing it at it's infancy, there is a lot of market manipulation going on that would be considered unethical in non-crypto markets. Therefore I think that TA should not be the main factor for decision making when trading newer alt-coins (BTC and ETH lend themselves better for TA).
As mentioned in my previous post i reloaded at 835 the lower fib retracement for that time, again I mainly go off the news and market sentiment when trading these coins, TA is secondary for me when it comes to most cryptos.
I think it is still a good time to buy in around the 850 to 900 mark (with some tolerance of course). Make sure to set your goals and be disciplined in following them. I like to set a goal at which I can for example sell a quantity at a price that will exactly have me break-even, after which I only stay in the market with theearnings. For example:
Buy: 1000 TRX @ 0.00000900 BTC = 0.009 BTC
Sell: 750 TRX @ 0.00001200 BTC = 0.009 BTC
As you can see above, you made back your money but you leave 250 TRX in (I do this if i believe there is a chance it goes up further but I also want to invest in other currencies). (I think it's super obvious but in case you want to do the math yourself for other targets: Buy price / Target Sell Price * Buy quantity = Sell quantity @ Target Sell price in order to keep position with profit only.)
Have fun.
Although cryptos have been around for some time now, we are still witnessing it at it's infancy, there is a lot of market manipulation going on that would be considered unethical in non-crypto markets. Therefore I think that TA should not be the main factor for decision making when trading newer alt-coins (BTC and ETH lend themselves better for TA).
As mentioned in my previous post i reloaded at 835 the lower fib retracement for that time, again I mainly go off the news and market sentiment when trading these coins, TA is secondary for me when it comes to most cryptos.
I think it is still a good time to buy in around the 850 to 900 mark (with some tolerance of course). Make sure to set your goals and be disciplined in following them. I like to set a goal at which I can for example sell a quantity at a price that will exactly have me break-even, after which I only stay in the market with theearnings. For example:
Buy: 1000 TRX @ 0.00000900 BTC = 0.009 BTC
Sell: 750 TRX @ 0.00001200 BTC = 0.009 BTC
As you can see above, you made back your money but you leave 250 TRX in (I do this if i believe there is a chance it goes up further but I also want to invest in other currencies). (I think it's super obvious but in case you want to do the math yourself for other targets: Buy price / Target Sell Price * Buy quantity = Sell quantity @ Target Sell price in order to keep position with profit only.)
Have fun.
Note
As expected Tron is holding itself well, again, this looks like a strong coin. On the short time we might not get the enormous returns that we unreasonably wish for but the last days gave us some good entry points as suggest prior. Almost the entire alt-coin universe seems to have been consolidating these last days and we also see that with Tron. Don't forget to sell along the way up, set some goals for yourself like for example selling at +20% from your entry point and +35% etc. Don't be greedy if you want to trade the market short term. Take out when you should be reasonably satisfied. When the market goes down again, analyze, and if favorable, reload/rebuy and ride the next wave or make some money on the other innumerable coins on Binance.
Trade closed manually
Well, I was wrong concerning the FUD, it did have major impact and it doesn't seem to recover short term with BTC being a mess. Lost some money on this, lesson learned. Hope everybody got out on time. Good luck. (I closed out before this giant dip though.)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.