Hi Traders!
Today we are going to look at TRX coin. Tron is a big Chinese cryptocurrency and its CEO Justin Sun is a great marketer. Why are we going to analyse just this coin? Chinese president announced last week they must increase investment into blockchain and prioritize cryptocurrencies. Chinese coins immediately reacted with growth. Justin Sun has been preparing the public for big news that came just yesterday on Twitter. Does it mean growth of TRX?
What does the graph say?
Exactly this is cryptocurrency manipulation. If a common person read this news, he would take it as a guaranteed growth. Is that really like that? De facto, oftentimes, when some news come out, this is already included in the graph, even before common people learn about it and it's just the case with TRX too.
Divergences on RSI and rising wedge doesn't mean anything positive. The overall perspective of TRX is possible growth. However, we anticipate a decline in the upcoming hours. The price is already compressed and the decline is just around the corner. We recommend considering purchase only after this decline. However, we have to wait for the style of the decline. Due to this reason, we don't highlight the purchase zone until we see the style of upcoming correction.
Today we are going to look at TRX coin. Tron is a big Chinese cryptocurrency and its CEO Justin Sun is a great marketer. Why are we going to analyse just this coin? Chinese president announced last week they must increase investment into blockchain and prioritize cryptocurrencies. Chinese coins immediately reacted with growth. Justin Sun has been preparing the public for big news that came just yesterday on Twitter. Does it mean growth of TRX?
What does the graph say?
Exactly this is cryptocurrency manipulation. If a common person read this news, he would take it as a guaranteed growth. Is that really like that? De facto, oftentimes, when some news come out, this is already included in the graph, even before common people learn about it and it's just the case with TRX too.
Divergences on RSI and rising wedge doesn't mean anything positive. The overall perspective of TRX is possible growth. However, we anticipate a decline in the upcoming hours. The price is already compressed and the decline is just around the corner. We recommend considering purchase only after this decline. However, we have to wait for the style of the decline. Due to this reason, we don't highlight the purchase zone until we see the style of upcoming correction.