Tron (TRX) Breakout. Possible long position after flagging.
Updated
Hey everyone, my last chart predicted sideways movement till the news so this was kind of expected. I believe this can be a great long position in anticipation for the secret project, as long as TRX can find support and form a strong bull flag. There is a medium chance it will be a false breakout. I bought into Tron at 440 so I'm kind of debating whether or not to take profit now.
Therefore,
Buy in:
When bull flag forms. If we drop straight back down it was likely a false breakout and should not be trusted. With the secret project tomorrow there will be an increase in demand or selling pressure, so be careful with a smart stop loss.
Sell targets:
573-600 satoshis.
Stop loss:
464 satoshi level or underneath the bull flag's support area.
I believe in the next few months TRX is going to have a good cycle again. As long as bitcoin can stay within the current range, a good 50% gain is possible.
Therefore,
Buy in:
When bull flag forms. If we drop straight back down it was likely a false breakout and should not be trusted. With the secret project tomorrow there will be an increase in demand or selling pressure, so be careful with a smart stop loss.
Sell targets:
573-600 satoshis.
Stop loss:
464 satoshi level or underneath the bull flag's support area.
I believe in the next few months TRX is going to have a good cycle again. As long as bitcoin can stay within the current range, a good 50% gain is possible.
Note
If this is a strong bull flag, I will be entering with more capital. If it is a weak one, I will be trading 0x.
Note
Ideally the best bull flags do not drop that much. More percentage drop from the highs = higher chance we do not get another break.Note
In theory over the next few months, we can net over a 50% gain.
Note
Not looking good so far
Note
Note
The livestream dump has occurred. This happened the last two times too. Still holding for now
Note
Hodl on for now. Trx got bought back to trendline.
Note
Went back under, bearish short term ( next few hours)Note
Currently corrected back to the starting price. We have a bullish div on the 15 minute, but I'm expecting sideways for now.
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