Disclaimer: I am not a professional trader and this is not financial advice, just an idea of what I see. I am currently simply trying to get in the game, learn and only bet very tiny amounts (10$ per trade). I am not a day trader, I'm looking for opportunities on longer time frames ( daily charts ). I also use only very simple indicators like moving averages.
What I see on the chart:
Like my 2 other ideas published today, TRX has formed a very nice cup and handle with a strong short time support at around 210 satoshis. It is after all a pretty simple and easy pattern to see. If that handle confirms its shape, we will likely retest a resistance at around 250 satoshis. It doesn't look to be that hard of a resistance to push through. The more likely hard resistance will be at around 300 satoshis which constituted a historical and strong support for Tron. However, that would still be a 30% increase from its current price.
Second, we've formed consistent higher highs and higher lows from mid-september 2019 showing a good and steady uptrend.
Third, the daily 200 MA (going down) and the daily 50 MA (going up) are on a colliding path which tends to be the sign of a major rally on most assets. The last time (4th of Jan) this meant a 110% gain for TRX when the 2 crossed.
Entry: now or wait for a retest of the 210 support.
Stop-loss: if you enter now, around 200 satoshis.
What I see on the chart:
Like my 2 other ideas published today, TRX has formed a very nice cup and handle with a strong short time support at around 210 satoshis. It is after all a pretty simple and easy pattern to see. If that handle confirms its shape, we will likely retest a resistance at around 250 satoshis. It doesn't look to be that hard of a resistance to push through. The more likely hard resistance will be at around 300 satoshis which constituted a historical and strong support for Tron. However, that would still be a 30% increase from its current price.
Second, we've formed consistent higher highs and higher lows from mid-september 2019 showing a good and steady uptrend.
Third, the daily 200 MA (going down) and the daily 50 MA (going up) are on a colliding path which tends to be the sign of a major rally on most assets. The last time (4th of Jan) this meant a 110% gain for TRX when the 2 crossed.
Entry: now or wait for a retest of the 210 support.
Stop-loss: if you enter now, around 200 satoshis.