Tron (TRX) Expect a small rally when we touch 300. Ideal short.
Tron has been doing relatively well compared to its competitor, Ethereum, but due to the correlation cryptocurrency markets have, Tron will likely also break the support zone and hit an all time low since the altcoin rally.
Currently we have been getting bullish divergences so expect a rally once we touch below 300 satoshis. Short the top of the rally and expect a 30% return on investment in the coming months. This is assuming Bitcoin drops below 6000 which will likely occur.
It is very obvious right now the start of capitulation is beginning with coins such as Ethereum warning us. If Bitcoin drops below 6000 for good and enters a true bear market, it is easy to predict coins like Tron will suffer greatly.
Therefore, we may short Tron.
Short area:
300 satoshis
Take profit:
224 satoshi level.
Thanks for viewing! I have been updated Tron for a long time and felt I should make an update. I believe Tron is a very good coin to buy and hold, and if Justin is smart, he will already have accumulated a ton of cash. Unfortunately I am unable to see the balance sheets so all this is speculation. However, the size of the company BitTorrent (employees) suggests it is worth over 100 million. Justin is also buying the cash/liquid assets of the company as well.
Currently we have been getting bullish divergences so expect a rally once we touch below 300 satoshis. Short the top of the rally and expect a 30% return on investment in the coming months. This is assuming Bitcoin drops below 6000 which will likely occur.
It is very obvious right now the start of capitulation is beginning with coins such as Ethereum warning us. If Bitcoin drops below 6000 for good and enters a true bear market, it is easy to predict coins like Tron will suffer greatly.
Therefore, we may short Tron.
Short area:
300 satoshis
Take profit:
224 satoshi level.
Thanks for viewing! I have been updated Tron for a long time and felt I should make an update. I believe Tron is a very good coin to buy and hold, and if Justin is smart, he will already have accumulated a ton of cash. Unfortunately I am unable to see the balance sheets so all this is speculation. However, the size of the company BitTorrent (employees) suggests it is worth over 100 million. Justin is also buying the cash/liquid assets of the company as well.
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4% profit so far.
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Tron tanked, as predicted. I will update when I see potential for reversel
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Reversal
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The 212 satoshi level would be a good support zone.
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Here is my previous Tron idea.
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Trade active:
If you didn't get a chance to short, you may enter now. Have a generous stop loss as we might range in this area.
