TRX lost support and is approaching accumulation zone (bearish)
I was previously short on TRX but I absolutely did not expect it to leave the green block aka demand zone.
TRX is in freefall but there might be some relief soon - between the top of the 3D block and white line (310-330 on Bitmex, a little lower on Binance). Perhaps it would be a decent bet to place some bids there and hope for the best but otherwise this looks like doom for TRX. If I absolutely had to have a position now, I would be short, but unless I see a good opportunity to do so I won't be forcing it -- I shouldn't have closed my short in the first place.
This is more of a warning to holders/longs than anything else.
TRX is in freefall but there might be some relief soon - between the top of the 3D block and white line (310-330 on Bitmex, a little lower on Binance). Perhaps it would be a decent bet to place some bids there and hope for the best but otherwise this looks like doom for TRX. If I absolutely had to have a position now, I would be short, but unless I see a good opportunity to do so I won't be forcing it -- I shouldn't have closed my short in the first place.
This is more of a warning to holders/longs than anything else.
Comment:
No plans of buying until there's a sign of reversal. Could be anywhere.