COIN NAME: $TRX
POSITION: Short
Entry Price: 0.2479 (Enter this price).
TRX is currently forming a descending channel on the 1-hour timeframe. If it faces rejection from the upper trendline, there's a strong possibility of a downward move. This could present a good shorting opportunity from the upper boundary of the channel. Additionally, the RSI is holding within the supply zone, which further supports the bearish outlook. Unless TRX breaks out above the channel, I remain bearish in the short term.
TRX is showing significant liquidity on both the upside and downside. From a technical perspective, it’s likely that TRX will first move upward to grab the liquidity above, followed by a reversal to the downside. This kind of liquidity sweep often acts as a trap before the real move begins.
BTC.D has formed a falling wedge pattern, which is typically a bullish setup. It has already broken above the upper trendline and completed a clean retest, confirming the breakout. If BTC.D continues to move higher, it could signal a shift of capital back into Bitcoin—often leading to downside pressure across the altcoin market.
Leverage: 5X
Targets:
1st TP 0.2438
2nd TP 0.2400
3rd TP 0.2378
Stop-Loss: 0.2540
This is my personal prediction, but as we all know, the crypto market is highly volatile. If you're considering this trade, be sure to conduct your own thorough research before making any decisions.
$TRX
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