TRON / BitcoinLong
TRX - Possible Cup & Handle formation in the making
Zaktualizowano
Hello Folks,
This is one of the most talked coins out there, and we all know that this is gonna blast one day, but no one knows the exact day yet. I am sure the history will repeat itself soon. TRX is looking really good here, and in spite of buying it at a higher position, I have bought some more to hold it for longer term to even out my cost.
Looking at the chart, you all can see that there can be a possible Cup formation going on for TRX right now. Although it could fall out of it and still finish the formation, but there are also a small chance that if BTC goes rogue, we might see it fall and making this pattern invalid.
The target for the Cup finish is 646, and it might have some resistance at the 599 price level before moving up.
This is just a mere opinion based on the candles structure. Anyhow, the coin is looking bullish, and has been really holding well. It is retracing a bit right now, but it is always a good buy at the bottom of a retrace.
We will keep following the trade, and I will make sure I keep updating it as and when needed.
Follow me here so you can get the notifications whenever I update the post.
This is one of the most talked coins out there, and we all know that this is gonna blast one day, but no one knows the exact day yet. I am sure the history will repeat itself soon. TRX is looking really good here, and in spite of buying it at a higher position, I have bought some more to hold it for longer term to even out my cost.
Looking at the chart, you all can see that there can be a possible Cup formation going on for TRX right now. Although it could fall out of it and still finish the formation, but there are also a small chance that if BTC goes rogue, we might see it fall and making this pattern invalid.
The target for the Cup finish is 646, and it might have some resistance at the 599 price level before moving up.
This is just a mere opinion based on the candles structure. Anyhow, the coin is looking bullish, and has been really holding well. It is retracing a bit right now, but it is always a good buy at the bottom of a retrace.
We will keep following the trade, and I will make sure I keep updating it as and when needed.
Follow me here so you can get the notifications whenever I update the post.
Uwaga
Looks like it is following the pattern very nicely. Its gonna head up to 646 and then we might see a handle formation. Once it completes the handle, it is mooning if all goes right. Hold em TRX bags.Uwaga
The Cup might have been formed already. See how we have two resistance from where the cup potentially started from, the cup probably finished forming at the first resistance at around 610 level. We might see a bounce from around 588. It will either finish forming the cup for the second resistance, or finish the handle and bounce more. I have my buy orders set to 588 for a good time hold. Uwaga
Also look out for this 30 min triangle, if it breaks out from the top, we might see a little bounce fro a while. Uwaga
Updated Cup & Handle PatternUwaga
Trying to breakout of the triangle to the upside. Lets see if it breaks out or not. Uwaga
Look like TRX is trying to complete the handle, and breakout. We have a heavy resistance on 630 level. Lets see if it breaks out of it. MACD is looking as if it will cross the signal line, and RSI still has some room to go up. Keep an eye out for this.Transakcja zamknięta: osiągnięto wyznaczony cel
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Note: This is a brand new community, so ignore the silence in there while we grow :)
discord.gg/t2RmTx7qCa
Note: This is a brand new community, so ignore the silence in there while we grow :)
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