Tron accumulating momentum for a substantial take off
"It's a pump and dump!" "Its a cup and handle!" "It's going down to 400!" "Its going up to 900!" "The whales manipulate it too much!" "It's a sh*! coin with no real world value!"
Who do we believe? The charts.. the charts never lie. This is a basic chart as I'm short on time but here are the basics.
No it wasn't a pump and dump. Yes its most likely a cup and handle. No its not going down to 400... right now. No its not going to 900... today. Whether or not its a sh*! coin is subjective, but it definitely has real world value.
Technicals:
- Cup and handle formed, and then the whales sold back down to the bottom of the new trendline.
- trading above all 3 sma's; seems to be using the 50 sma as a support
- Volume is up the last few days. As I type this the volume on Binance is 28k BTC
- The 535 and 560 support lines have been holding well and the 650 continues to be a strong resistance
Not shown on this graph is the lead up to the big breakout in december/january. This last pump in the last few days looks an awful lot like it did then. The volume looks similar, the rsi and macd do as well.
For educational purposes only, I'd say be careful of trading until the current MACD flips. Set alarms near buy and sell targets in case tron decides to pull a verge and go up 50 or 60% over night. I honestly can't predict when it will be any better than anyone else can, but if i had to guess I'd say the next big jump by tron will be bigger and faster than these last pumps. I've also labeled some support areas on the MACD that i've been told have helped other traders.
Conclusion:
Be careful in the very short term with this one. As always do your own research and set alarms near your buy and sell targets so you don't get screwed. Long term still looks great. Tron has a great team behind them and a great long term goal. The test net definitely shut up some of the FUD and I presume that the main net release in about 6 weeks will bring alot of the haters to the trough to eat. People like to talk crap. People like to make money even more. And if played right tron can make people alot of money.
If this helps you please give me a like.
BT
Who do we believe? The charts.. the charts never lie. This is a basic chart as I'm short on time but here are the basics.
No it wasn't a pump and dump. Yes its most likely a cup and handle. No its not going down to 400... right now. No its not going to 900... today. Whether or not its a sh*! coin is subjective, but it definitely has real world value.
Technicals:
- Cup and handle formed, and then the whales sold back down to the bottom of the new trendline.
- trading above all 3 sma's; seems to be using the 50 sma as a support
- Volume is up the last few days. As I type this the volume on Binance is 28k BTC
- The 535 and 560 support lines have been holding well and the 650 continues to be a strong resistance
Not shown on this graph is the lead up to the big breakout in december/january. This last pump in the last few days looks an awful lot like it did then. The volume looks similar, the rsi and macd do as well.
For educational purposes only, I'd say be careful of trading until the current MACD flips. Set alarms near buy and sell targets in case tron decides to pull a verge and go up 50 or 60% over night. I honestly can't predict when it will be any better than anyone else can, but if i had to guess I'd say the next big jump by tron will be bigger and faster than these last pumps. I've also labeled some support areas on the MACD that i've been told have helped other traders.
Conclusion:
Be careful in the very short term with this one. As always do your own research and set alarms near your buy and sell targets so you don't get screwed. Long term still looks great. Tron has a great team behind them and a great long term goal. The test net definitely shut up some of the FUD and I presume that the main net release in about 6 weeks will bring alot of the haters to the trough to eat. People like to talk crap. People like to make money even more. And if played right tron can make people alot of money.
If this helps you please give me a like.
BT
Comment:
Comment:
heres another possibility and with the volume going down slightly and the MACD reversed I'd say it is a little more likely that it follows the descending wedge than it does the ascending trend lines. do your own research