Hi guys, got a simple analysis on TRX for you here.
The play is simple- open a long once we breach the sideways resistance (green line), and set a stop loss if we breach the sideways support (red line). I have strong confidence, however, that you can open up a long at this point regardless. Of course, this could take a dive to the low 500s, but in the grand scheme of things, it's no big deal. I personally see this going to 900-1200 Sats by the end of next week, simply by taking a look at the weekly charts.
We've all seen this formation/pattern a million times over- it's quite clear to me that the next weekly candle will be a big one. If you're looking for assured upside, take this play here, otherwise, hold out for a week or two and collect them gainzzzzz.
Profit taking will be along any yellow or green Fibonacci point included in this chart.
Good luck guys, hope you make some money :)
The play is simple- open a long once we breach the sideways resistance (green line), and set a stop loss if we breach the sideways support (red line). I have strong confidence, however, that you can open up a long at this point regardless. Of course, this could take a dive to the low 500s, but in the grand scheme of things, it's no big deal. I personally see this going to 900-1200 Sats by the end of next week, simply by taking a look at the weekly charts.
We've all seen this formation/pattern a million times over- it's quite clear to me that the next weekly candle will be a big one. If you're looking for assured upside, take this play here, otherwise, hold out for a week or two and collect them gainzzzzz.
Profit taking will be along any yellow or green Fibonacci point included in this chart.
Good luck guys, hope you make some money :)
Note
This trade is still active! To, it's obvious that big money is trying to shake out people, because they're flirting so close with the resistance/support. Hold on and wait for the gains. XVG is in the 1000s now, and TRX is waiting to do the same, just wait.Note
I know this is looking a little flat, but have patience everyone! This is merely doing consolidation before a rally up. 800 is your first foreseeable stop.
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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.
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.