Tron Update 2: Bullish Run is not over yet! Potential 37% Profit
Hello Traders,
Tron Mainnet beta release is next week, and we already see people are hyping up for this exciting event!
As you remember from my last analysis, I mentioned that my initial target was 513 Satoshi, and my second target was 590 Satoshi. Both targets have been met, and I hope most of you had a significant profit :)
Looking at 4 hour chart we see that, buyer is losing momentum, and I believe that some retracement is necessary in order to have next exciting bull run (RSI is at overbought region: orange circle).
I would place my first buy order at 534 Satoshi. This is the region where EMA20 and 23.6% Fibonacci retracement level meet, and I hope this would be a good support for Tron.
If Tron does not find support in this level, next buying are is 494 Satoshi (38.2%).
Next selling targets are tricky one, as I do not see major resistance other than 730 Satoshi and 945 Satoshi.
Tron was pumped very hard earlier this year, and unfortunately, it failed to find good supports and resistances after a massive dump. So, I will place my selling orders at both regions.
I also see minor resistance at 863 Satoshi, so I may cash out some profit around that area as well.
Happy Trading!
Tron Mainnet beta release is next week, and we already see people are hyping up for this exciting event!
As you remember from my last analysis, I mentioned that my initial target was 513 Satoshi, and my second target was 590 Satoshi. Both targets have been met, and I hope most of you had a significant profit :)
Looking at 4 hour chart we see that, buyer is losing momentum, and I believe that some retracement is necessary in order to have next exciting bull run (RSI is at overbought region: orange circle).
I would place my first buy order at 534 Satoshi. This is the region where EMA20 and 23.6% Fibonacci retracement level meet, and I hope this would be a good support for Tron.
If Tron does not find support in this level, next buying are is 494 Satoshi (38.2%).
Next selling targets are tricky one, as I do not see major resistance other than 730 Satoshi and 945 Satoshi.
Tron was pumped very hard earlier this year, and unfortunately, it failed to find good supports and resistances after a massive dump. So, I will place my selling orders at both regions.
I also see minor resistance at 863 Satoshi, so I may cash out some profit around that area as well.
Happy Trading!
Trade active
Comment:
Reached to my initial buy zone! Only 2 Satoshi different from my prediction!!!!
Comment:
Just a quick update:
I think Tron hit the bottom around 525 Satoshi which is close to 38.2 retracement level. However, I still think some side-way movement is necessary for next bull run.
If you look at the chart, we see that RSI is still fairly high, and I would like it hit 55 before next huge bull run. Stoch RSI is about to cross!
I think Tron hit the bottom around 525 Satoshi which is close to 38.2 retracement level. However, I still think some side-way movement is necessary for next bull run.
If you look at the chart, we see that RSI is still fairly high, and I would like it hit 55 before next huge bull run. Stoch RSI is about to cross!
Trade active:
RSI is at 55. Ready for next bull run! (just waiting for Stoch RSI to cross)
Comment:
Second buying order triggered!