BINANCE:TNBBTC had a big run right when it was first listed from 258 Satoshi's to 2254 Satoshi's.
Since then, TNB had nearly a 100% retrace.
It has now found a strong support that it is respecting very well.
Significant volume is moving in and it's coming up against resistance that had acted as support prior.
Fundamentals:
- Develop and test consensus mechanism for M.I.T Chain by end of April.
- Develop and test distributed ledger, wallet and mining of M.I.T chain by the end of April.
Big news like this and lots of volume coming in indicate this coin has a strong run in it's potential futures.
The blue line is a critical resistance at .236 that it must cross in order for these other targets to remain within reach.
Green line are safe targets to set sell orders at.
The risk with this trade is if the .236 Fib line rejects it, it may retrace back down to the accumulation zone.
Overall, I really like this trade for both short term and mid term.
Since then, TNB had nearly a 100% retrace.
It has now found a strong support that it is respecting very well.
Significant volume is moving in and it's coming up against resistance that had acted as support prior.
Fundamentals:
- Develop and test consensus mechanism for M.I.T Chain by end of April.
- Develop and test distributed ledger, wallet and mining of M.I.T chain by the end of April.
Big news like this and lots of volume coming in indicate this coin has a strong run in it's potential futures.
The blue line is a critical resistance at .236 that it must cross in order for these other targets to remain within reach.
Green line are safe targets to set sell orders at.
The risk with this trade is if the .236 Fib line rejects it, it may retrace back down to the accumulation zone.
Overall, I really like this trade for both short term and mid term.
It's still holding the trend.