Tron (TRX) At support & "Secret Project Launch" next month.
Updated
Currently TRX/BTC is hovering at the strong support of around 630 sats. However, as Bitcoin has been suffering this month, and the market has been exceedingly weak, we have reason to believe that unless the market has a short term correction, we will be breaking the support and continuing the downtrend. This will be obvious if we do not get a bounce soon, and the smaller the bounce, the more bearish the coin will get.
Therefore, if you do hold TRX, set a stop loss for 600 and prepare to buy back in near the 500 satoshi mark. However, if TRX can hold 600, it is not a bad move to enter a small position as we have positive news about TRX being accepted by Pornhub, as well as the acquisition of BitTorrent.
On a side note, we see a bullish divergence on the 1 day chart, so this may be the bottom if Bitcoin can hold above 6000 dollars. And currently according to a certain web article, Justin has revealed he will be revealing a "secret project" on July 30th. I believe this will be on July 29th for people living in North America, and if Verge has shown us anything, I believe that purchasing a small position to see how the news plays out is not a bad idea.
If you do hold TRX, set a stop loss: 600 satoshi level to protect yourself if it breaks support. I reccommend selling everything somewhere below 740, and buying back in if we have a bullish breakout past the 750 mark.
If TRX cannot hold the 600 satoshi level, the next level of suppot would be at the 500-510 satoshi level.
Thanks for viewing! Please leave any questions in the comments below. It helps me learn and improve my charting.
Therefore, if you do hold TRX, set a stop loss for 600 and prepare to buy back in near the 500 satoshi mark. However, if TRX can hold 600, it is not a bad move to enter a small position as we have positive news about TRX being accepted by Pornhub, as well as the acquisition of BitTorrent.
On a side note, we see a bullish divergence on the 1 day chart, so this may be the bottom if Bitcoin can hold above 6000 dollars. And currently according to a certain web article, Justin has revealed he will be revealing a "secret project" on July 30th. I believe this will be on July 29th for people living in North America, and if Verge has shown us anything, I believe that purchasing a small position to see how the news plays out is not a bad idea.
If you do hold TRX, set a stop loss: 600 satoshi level to protect yourself if it breaks support. I reccommend selling everything somewhere below 740, and buying back in if we have a bullish breakout past the 750 mark.
If TRX cannot hold the 600 satoshi level, the next level of suppot would be at the 500-510 satoshi level.
Thanks for viewing! Please leave any questions in the comments below. It helps me learn and improve my charting.
Note
So it did break down, Probably going to drop until the green support at least.Note
Related publications
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.