With the rise of Upbit listing, TRX/BTC has retraced quite a bit but found support between the .500 - .618 fib retracement levels at around 0.00000550.
Bounced several times on this level and from its hourly 50 ema (yellow line) so this seems to be a good support area for TRON.
If you look to trade this bounce as a short-term/day trade, then this is how you can trade it:
Buy Zone:
0.00000550 - 0.00000565
Profit Target:
1. 0.00000611
2. 0.00000648
3. 0.00000688
Keep in mind that you can take profits at any time when you feel comfortable with or want to secure your profits. You don't have to wait for a target to be reached in order to sell.
Stop Loss:
0.00000530
Leave a comment if you have any questions.
And until next time, good luck with your trading!
Bounced several times on this level and from its hourly 50 ema (yellow line) so this seems to be a good support area for TRON.
If you look to trade this bounce as a short-term/day trade, then this is how you can trade it:
Buy Zone:
0.00000550 - 0.00000565
Profit Target:
1. 0.00000611
2. 0.00000648
3. 0.00000688
Keep in mind that you can take profits at any time when you feel comfortable with or want to secure your profits. You don't have to wait for a target to be reached in order to sell.
Stop Loss:
0.00000530
Leave a comment if you have any questions.
And until next time, good luck with your trading!
