Trade Recommendation: EUR/MXN

1 min


Our March 21, 2018 trade suggestion for TRON/Bitcoin(TRX/BTC) struck its mark on April 24 when the marketplace reached 0.000008 Those who followed the trade suggestion grew their financial investments by 100% in a month.

While we were anticipating the set to variety trade, it overshot our target and reached 0.00001 resistance on April30 As 0.00001 is likewise the 50% Fibonacci level, this is where bottom pickers began to take revenues. The selling pressure drove the set to 0.00000721 on May12 Coincidentally, this rate point is likewise the 38.2% Fibonacci level.

Exactly what’s intriguing about this pullback is that the volume has actually been anemic. This informs us that much of those who purchased 0.000004 are holding their positions. This is bullish for the set as unwillingness to offer constricts market supply. Under these conditions, we can bottom choice TRX/BTC.

Technical analysis reveal that TRON/Bitcoin is developing a cup and deal with turnaround pattern. This follows the set published a greater low setup at the 38.2% Fibonacci level. The shallow correction from the rally recommends that individuals are purchasing on dips. That’s exactly what we’ll do also.

The technique is to purchase as near to 0.0000076 as possible. As long as bulls hold the greater low, they have all the momentum they have to secure resistance of 0.00001 and fire up an uptrend. This might take us to our target of 0.000016

The procedure can take less than a month.

Daily Chart of TRON/Bitcoin on Binance

Since this writing, the TRON/Bitcoin set is trading at 0.0000082 on Binance

Summary of Method

Purchase: As near to 0.0000076 as possible.

Target: 0.000016

Stop: 0.00000721

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds financial investment positions in the coins, however does not participate in short-term or day-trading.

Included image thanks to Shutterstock.

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Nikolai

Nikolai is a Canadian writer currently living in Singapore. His started writing on Blockchian and bitcoin since 2017, he do Reviews and Analysis on Coins, ICOs. He holds a Master in Business Management and have keen interest in Computer Since, Blockchain and love to write on latest trends in Blockchain space.
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