Fundamental and Technical Trade. SHORT, Buy the rumor, sell news
Updated
As usual, buy the rumor sell the news is about to take place as it always does. The people who bought and pushed price up bought it to make a profit, the same people who bought will now sell. We can see a lot of bearish patterns developing on the daily charts (Doji reversal pattern with a swing high and low on either side. On the 1 hr charts, we see a massive head and shoulders that has formed, in addition to breaking down from the falling wedge. Price is likely to correct, as it rose in anticipation for the event that is about to take place, in which a sell of will ensue. You wanted a price rise, you got it, now traders will begin taking profits within 11 hours. Buy the rumor, sell the news
Note
I would also like to say, the trading volume for TRX yesterday on Binance was 28k BTC, it has fallen to 18k BTC. That is not a good sign, and is a bearish sign as well. As with any hype cycle the news becomes stale, and traders will move onto other markets for the short term.Note
Welp lol. I hope one Terrible Investor, was able to save another
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