Mr_Guapo

TRX/USD going to 0.045$ before mooning?!

Short
BITFINEX:TRXUSD   TRON
Due to the recent market crash, with BTC falling to 7000$ and assuming it will still fall to around 6500$, i believe TRX will test the 0.786 region of the Fibonacci Retracement according to its recent low and recent high. Today's candle (althought we have to wait until the end of the day to see confirmation), is very bearish sign! Meaning the bulls have tried to bring TRX up but the bears won and took it very deep! Also according to the recent line of resistence, TRX tried to break it 3 times (A, B and C) and have failed all. After testing the 0.786 we should go back to the 0.618 region where we will find "some" resistance and after that we have green light for mooning operation!!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.