🔥 Hi friends! Justin Sun is an owner of Tron Network (TRX) and Huobi exchange. The latest data shows that almost 80% of Huobi reserves were withdrawn from the exchange due to FTX collapse. This is a largest outflow among the largest crypto exchanges. Additionally, Justin Sun wants to buy parts of FTX to be the leader at the US market, so it’s a good news.
✅ I think that TRON is continue to grow because its largest network for USDT holdings. TRC-20 is the most cheapest network for deposits.
Friends, take a look on chart. There we can see the flags which mark the DUMP-PUMP pattern on TRX. This altcoin fall so hard, but also grow so high and this pattern has almost 100% win rate. Now the price make a huge DUMP and we need just to find the best entry point.
📊 The main precondition to open a trade is at squeeze to the trendline. These squeezes happen just before the breakout, so it’s nice place to open a trade with short stop loss and HUGE RR.
🚩 The bullish BTC is a must have during such squeezes. The alt coins price need new fresh money and they are coming only when BTC grow.
TRX has a strong resistance at $0.060-0.065, but first of all it should break the key level at $0.0563. These will be the 2 local targets for TRX.
I will make the huge update with the global targets when the price make HH and HL at the 1d-1W timeframes at least. Now we need only the local targets until new bullish BTC start.
Friends, what do you think about TRX? Does it have a potential to return to its ATH? Write your thoughts in the comment!
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade
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.