I received a tip about Trustcoin ( TRST -3.26% ) as a message on Trading View. I saw some potential for this coin but it wasn't huge, but there were some news coming out on the pipeline for this coin, and we all know how cryptocurrency traders love news, so I decide to jump in, and it was the right choice, the price has been going up and holding strong and the potential for either a huge gain or a short one are there.
The news event was moved for today (24th Jan.), so the announcement can give us another push, as media attention generates momentum, so we use this as one of our indicators for a possible profitable trade. Now, breath deeply and RELAX... let's look at the details for this trade:
*** Trustcoin ( TRST -3.26% ) Trade Analysis by Alan Masters
Instructions
Buy-in: 0.000065 - 0.000086
Targets:
(1) 0.000093
(2) 0.000103
(3) 0.000133
(4) 0.000153
(5) 0.000173
(6) 0.000243 (New all time high)
Stop-loss: 0.000057
Indicators
- We had a very strong bounce yesterday on the daily chart , and this coin looks like it wants more.
- The little formation you see in the chart above tells me that this coin wants more. Today we can either consolidate or move straight up. The indicators are curving (or already curved) to continue its move up. The last few negative days served as the retrace, so we can expect more action to come.
- The news event coming up today is as good as a strong indicator, as this Alternative Cryptocurrency (Altcoin) market moves hard on news.
- This coin has low volume which allows plenty of room for growth.
- The weekly chart is young, but it shows plenty of room available for growth as well.
- With the indicators out of our way... Now... Let's trade!!!