Tron! Pay attention to those trend reversal signals

8 Jun 2018

Hello Traders,

After 2 weeks of consolidation period, TRXBTC pair is starting to look bullish.

Initially, I published an idea on trend reversal on June 1st, and this idea was supported by RSI and Stoch RSI bullish divergence. We saw relief rally up to 829 Satoshi, but bears gained control ever since.

Looking at the 4 hour chart, Tron bounced at the purple trendline, and looking to break pink trendline once again.
This time, the chart looks much better than the reversal on June 1st for multiple reasons:
1) RSI + MACD divergence (indicated in blue lines)
2) Stoch RSI crossover
3) Also, past 16 hour candles are very bullish (2 bullish engulfing pattern)

Please wait until breakout confirmation to enter long position. Watch for large green candle + large volume.
The target for this trade is 856 Satoshi (13% profit), followed by 813 Satoshi retracement. We need to solidify this level as a support if Tron wants to continue its rally.

Happy trading!

9 Jun 2018

Nota

Broke above the pink trendline.
However, I am still waiting for the breakout confirmation (high volume).

9 Jun 2018

Nota

Stopped at the purple trendline.
It is confirmed breakout if:
1) Find support in yellow box region
2) Break above purple trendline with high volume

Good luck

10 Jun 2018

Nota

Be careful how you trade Tron right now. It is trying to find support at 5.5 cents in TRON/USD pair. This is why despite bitcoin dip, Tron is managing to stay 760 Satoshi.

However, this may be a good time for investors to buy in more bitcoins, and accumulate alt coins, as most of them are very very VERY cheap right now.

Here are what I like:
ADA, ICX, WABI, ZIL, SUB, and NCASH
I will post the technical analysis for those alt coins when I see trend reversal