Tron (TRX) Big market order boosted TRX up. Unclear signals.
Updated
TRX broke out of the falling wedge netting me around 5% profit after it hit my stop loss. However, the Bitcoin ETF decision which has now been moved to September caused BTC dominance to rise, basically people moved their BTC out of altcoins. This is one of the reasons I strongly wish for more exchanges with fiat to altcoins so we do not need to analyze both Bitcoin and the altcoin charts before trading.
Right now on paper it looks like we will be continuing down, but as mentioned, a secret project will be announced in 6 days, and as shown on the chart, there was a large buy order for TRX which caused a move up of around 6%, which might keep us above 400 before demand rises due to the news.
Right now I would wait and see if Bitcoin can hold and what the dominance decides to do before moving funds back into Tron.
I did pick up some TRX at 445, but a very small portion, with a stop loss at 400, but I'm fine with the risk.
Thanks for viewing! Leave any thoughts you have in the comments below. I'll make sure to respond to questions.
Right now on paper it looks like we will be continuing down, but as mentioned, a secret project will be announced in 6 days, and as shown on the chart, there was a large buy order for TRX which caused a move up of around 6%, which might keep us above 400 before demand rises due to the news.
Right now I would wait and see if Bitcoin can hold and what the dominance decides to do before moving funds back into Tron.
I did pick up some TRX at 445, but a very small portion, with a stop loss at 400, but I'm fine with the risk.
Thanks for viewing! Leave any thoughts you have in the comments below. I'll make sure to respond to questions.
Note
Strong flagging. Not bad time to enterNote
Nothing new. Few more days.
Note
Bitcoin ETF declined. Not sure but I predict we hold 450.
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