TRON / BitcoinDiupdate Mainnet release! Minor dip, but it is not dead yet!
Hello Traders,
After the mainnet release, Tron has been experiencing a minor dip.
Looking at the daily chart, Tron is trying to find support at the purple trendline. This is probably the strongest support that Tron will get, and breakout below this trendline will be very problematic in short term.
Target for the breakout below the trendline is 760, 625, and then 405 Satoshi.
Also, one of the interesting things to note is that the intersection of pink trendline as well as purple trendline is on June 25th, which coincides Tron's "Independence day". This is a very important day for Tron as they will be switching from ERC20 token to TRX token. However, this symmetrical triangular pattern on the daily chart does not tell us whether it will breakout above the pink trendline or below the purple line.
In addition to the symmetrical pattern, I also see potential cup and handle pattern is starting to take place in daily chart. I still think testing pink resistance line will happen, and we can expect at least 25% profit in next 2-3 weeks or so. (970 Satoshi)
After the mainnet release, Tron has been experiencing a minor dip.
Looking at the daily chart, Tron is trying to find support at the purple trendline. This is probably the strongest support that Tron will get, and breakout below this trendline will be very problematic in short term.
Target for the breakout below the trendline is 760, 625, and then 405 Satoshi.
Also, one of the interesting things to note is that the intersection of pink trendline as well as purple trendline is on June 25th, which coincides Tron's "Independence day". This is a very important day for Tron as they will be switching from ERC20 token to TRX token. However, this symmetrical triangular pattern on the daily chart does not tell us whether it will breakout above the pink trendline or below the purple line.
In addition to the symmetrical pattern, I also see potential cup and handle pattern is starting to take place in daily chart. I still think testing pink resistance line will happen, and we can expect at least 25% profit in next 2-3 weeks or so. (970 Satoshi)
Catatan
Short/mid-term trading plan...Tron just brokeout from pink trendline and heading to the descending purple trendline. (around 835-840 Satoshi). I expect to retrace 827 or ascending trendline and continue its rally to 878 Satoshi. Tron is trading within blue channel for some time, and it is important for it breakout from this channel in order to reach 970 Satoshi. If you are conservative trader, breaking out from 878 would be a safer trade.
Catatan
Bullish divergence is becoming very clear now. Reversal is very near. We saw bearish divergence in green, and there was a huge dip.
Trade aktif
My first buying order at 760 has triggered. Both MACD and RSI shows the sign of bull divergence. 
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.