E59192234

$TRX is Bullish

Long
E59192234 Aktualisiert   
BINANCE:TRXBTC   TRON / Bitcoin
TRX is currently breaking out of a resistance. I am bullish on this coin for a number of reasons both in Technical Analysis and Fundamental Analysis. Let's take a look at the TA first.

Technical Analysis:
- Currently breaking out of resistance.
- If we are quickly rejected off of the horizontal resistance that is slightly above the first resistance, it would be continuing an ascending triangle. In this case I would be looking to add more around 800 satoshi on support.
- Stoch RSI and RSI are both pretty high, which makes me think that we could get rejected here. I entered with a small position just in case the run busts through all resistance.

Fundamental Analysis:
- We all know that TRX is one of the biggest cult coins out there. When it pumps, it pumps hard. This allows for a high upside and potential for profit.
- Mainnet launch by the end of the month.
- New website coming.

I am long on TRX.
Kommentar:
TRX looks to have been convincingly rejected from the horizontal resistance. I expect TRX to consolidate possibly to the ascending triangle support and then continue the journey up as we get closer to their mainnet launch.
Kommentar:
I have buy orders at around .00000800
Kommentar:
You can tell that the sentiment is very bullish on TRX becuase it is holding up extremely well with these market-wide dips and is still filling out the ascending triangle. This trade looks like it is going to work out beautifully.

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