Timeframe: 240M
Main Scenario: Today the TRON project will launch its virtual machine in testnet mode, and also will reveal one of their “secret projects” we will be aware of how this will impact the price, personally, I think it will react a little despite having lost -5.13% in the last 24-H. The price is now testing the Pivot S1 at 447 Satoshis very close to the next support at 444 Satoshis, we could have a long entry in the support at 444 Satoshis where the price can bounce and look for the Fib Retracement of 50%; The indicators are in the oversold area and it is possible that the buyers start to push the chart up.
Alternative Scenario: The price could cross the Pivot S1 and the 444 to look for the next support at 426 Satoshis.
Entry/Stop Loss/ Take Profit: We can go long if the price moves between 436-444 Satoshis with 2 targets
T1 = 0.00000461 (3.7 %)
T2 = 0.00000471 (5.8 %)
The Stop Loss can be placed at 0.00000434 (-2.3%)
Duration: 1-2 Days
Consolidation/Ratification level: If the price crosses the first target, you can drag the stop loss to the entry point.
Warning Level: A further drop below the Pivot S1 will invalidate this setup.
Risk Management: Risk/Reward Ratio: 2.7.
Main Scenario: Today the TRON project will launch its virtual machine in testnet mode, and also will reveal one of their “secret projects” we will be aware of how this will impact the price, personally, I think it will react a little despite having lost -5.13% in the last 24-H. The price is now testing the Pivot S1 at 447 Satoshis very close to the next support at 444 Satoshis, we could have a long entry in the support at 444 Satoshis where the price can bounce and look for the Fib Retracement of 50%; The indicators are in the oversold area and it is possible that the buyers start to push the chart up.
Alternative Scenario: The price could cross the Pivot S1 and the 444 to look for the next support at 426 Satoshis.
Entry/Stop Loss/ Take Profit: We can go long if the price moves between 436-444 Satoshis with 2 targets
T1 = 0.00000461 (3.7 %)
T2 = 0.00000471 (5.8 %)
The Stop Loss can be placed at 0.00000434 (-2.3%)
Duration: 1-2 Days
Consolidation/Ratification level: If the price crosses the first target, you can drag the stop loss to the entry point.
Warning Level: A further drop below the Pivot S1 will invalidate this setup.
Risk Management: Risk/Reward Ratio: 2.7.