TRON: Buying Opportunity if Bitcoin Moves Up
Let's imagine that Bitcoin is moving up. If so, TRON coin can give us a possible buying opportunity. Let's look at the daily timeframe. The price bounced from the support zone formed by SMAs with different periods and the local uptrend line. Now the price is at the weekly downtrend line, and the price action at this zone will be able to give a trading signal.
If the price breaks this downtrend line, it will be possible to open long positions with stop orders below the support zone. Profit targets can be based on the resistance levels. MACD and RSI are going to support an upward movement.
There are 2 questions, which you should take into consideration:
do you believe that Bitcoin is going to continue the upward movement?
do you think that TRON has a solid fundamental background?
If yes, probably for you this market should be added to a trading portfolio. Share your ideas about this coin. Do you believe that the market will be able to move back to the resistance?
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price breaks this downtrend line, it will be possible to open long positions with stop orders below the support zone. Profit targets can be based on the resistance levels. MACD and RSI are going to support an upward movement.
There are 2 questions, which you should take into consideration:
do you believe that Bitcoin is going to continue the upward movement?
do you think that TRON has a solid fundamental background?
If yes, probably for you this market should be added to a trading portfolio. Share your ideas about this coin. Do you believe that the market will be able to move back to the resistance?
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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