TRX minting is still coming (USDD)...Hello,
i believe the current uptrend in btc and alts isnt for too long.
i looked up for promising short setups in alts and came across TRX.
It seems to trade in a triangle which should break (up or) down soon.
Justin Sun still wants to enable the TRX burn and mint functions (the same as LUNA/UST), but there is currently no date for that.
Originaly they wanted to enable the TRX/USDD mechanism back in November but Justin Sun delayed it.
(He likely delayed it and made the date unknown so traders cant frontrun TRX and sell it off!)
USDD is a ponzi and its not even hard to tell, obviously 30%+ APY is a Ponzi.
When the USDD/TRX mint will get enabled then it is gameover for TRX.
TRX will likely go to like 0.0000001 just like LUNA did if the TRX mint gets turned on.
That plus the TA of the triangle makes this an excellent short target in my view.
TA + Fundamentals line up and these are usualy good setups.
My targets are very conservative interpretation of the triangle resistance, it may aswell sell off earlier. (will look for new short if so)
Im still using a tight stoploss and doing low leverage (and kinda hoping it isnt too tight, better pick ur own sl+entry)
Note: there´s also counterparty risk. I personaly dont trust Binance for example.
(Im using Kraken as its USA regulated but even then, who knows!)
Be careful and dont hold more then ur affordable to loose on any exchange.
That said, trade safe and please only invest what ur affordable to loose, as Crypto is a fraud ridden bubble (imo).
