Hi Everyone, I usually post only TA on BTC/USD and as you can see in my profile I'm right most of the time, even with great accuracy. Please do make sure to check out my charts.
I usually, never ever post TA on altcoins for one reason only: no matter the chart and indicators, they always follow BTC moves. If BTC dumps alts dump, if BTC moves up, the alts likely move up as well. For this reason alone, trading altcoins is an extremely high risk. With that said, BTC and altcoins at the moment are all trying to set a higher low.
Now, IF they succeed setting this higher low, TRX is the altcoin to watch out for. These past few weeks, it dumped a lot but not as much as the other altcoins. If BTC moves up (a strong move is in the cards given the tight range BTC has been trading lately and the steady volume).
Please make sure to read my latest thoughts on BTC as TRX is led by BTC. As I explained in BTCUSD charts, it is possible that a breakdown could play out to trigger stop losses for big players to accumulate and buy with big volume (masking their purchases through the sell pressure). However, I do not think that the breakdown will last since a strong green candle will likely follow the breakdown. However, there are strong indications that a higher low can be set and BTC will move higher.
As a technical analyst, TRX resilience during this dump has been impressive. A strong move up, again IF BTC moves up, could launch TRX to $0.018/0.020.
If you like my posts, please like and follow. Also make sure to check out my other posts. I will keep this updated as we go on.
I usually, never ever post TA on altcoins for one reason only: no matter the chart and indicators, they always follow BTC moves. If BTC dumps alts dump, if BTC moves up, the alts likely move up as well. For this reason alone, trading altcoins is an extremely high risk. With that said, BTC and altcoins at the moment are all trying to set a higher low.
Now, IF they succeed setting this higher low, TRX is the altcoin to watch out for. These past few weeks, it dumped a lot but not as much as the other altcoins. If BTC moves up (a strong move is in the cards given the tight range BTC has been trading lately and the steady volume).
Please make sure to read my latest thoughts on BTC as TRX is led by BTC. As I explained in BTCUSD charts, it is possible that a breakdown could play out to trigger stop losses for big players to accumulate and buy with big volume (masking their purchases through the sell pressure). However, I do not think that the breakdown will last since a strong green candle will likely follow the breakdown. However, there are strong indications that a higher low can be set and BTC will move higher.
As a technical analyst, TRX resilience during this dump has been impressive. A strong move up, again IF BTC moves up, could launch TRX to $0.018/0.020.
If you like my posts, please like and follow. Also make sure to check out my other posts. I will keep this updated as we go on.
Comment:
I hope some of you followed my call! Made some great returns on this one.
Trade closed: target reached:
Perfect call!