Tron (TRX) Bullish breakout, likely another leg up. Careful!
Updated
Like all the other altcoins, TRX has had a nice bounce from its lows. If you managed to catch it around that area, congratulations. I did pick up some TRX at 303 and will likely sell at 355.
I am still bearish. This is because BTC is currently in a short term bullish reversal and it is likely we drop down again. I believe the 7.1-4k area is the maximum BTC can reach and expect 6.8k to be the top.
Therefore, if you hold Tron, consider selling it near 355 which is the resistance or when Bitcoin peaks at around 6.8-7.4k. If Tron forms a strong bull flag, do not sell, since another leg up may be coming. A strong bull flag is when price just stays within the same range without slowly sloping down. The less we drop, the more bullish we are.
I am bullish in the short term but believe this is just another bounce for BTC.
Either way, there is 5% more to be made on TRX so trade safely.
Thanks for viewing! I will respond to all comments below.
I am still bearish. This is because BTC is currently in a short term bullish reversal and it is likely we drop down again. I believe the 7.1-4k area is the maximum BTC can reach and expect 6.8k to be the top.
Therefore, if you hold Tron, consider selling it near 355 which is the resistance or when Bitcoin peaks at around 6.8-7.4k. If Tron forms a strong bull flag, do not sell, since another leg up may be coming. A strong bull flag is when price just stays within the same range without slowly sloping down. The less we drop, the more bullish we are.
I am bullish in the short term but believe this is just another bounce for BTC.
Either way, there is 5% more to be made on TRX so trade safely.
Thanks for viewing! I will respond to all comments below.
Note
Rejection. I think we might have a chance for a retest and breakthrough.
Note
Here we go! Might have more in store for a bullish move.Note
However, BTC dropped so momentum was lost. Looks like we will drop a bit.Note
Note
Note
Expecting another drop
Related publications
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.