While Bitcoin and Ether opened about 4% lower this morning, $TRX went the other way — and I am not buying the explanation for it.
After days pinned near $0.332, TRX printed one 4-hour candle that spiked to $0.365 and closed at $0.352, on nearly 17 times the average volume of the candles before it. That is not drift: that hour's liquidation tally showed shorts liquidated far heavier than longs.
Two readings are on the table. One says new access did it, with TRX options launching on a major retail platform on October 28. The other says squeeze, since options volume is still a tiny corner of TRX derivatives, far too small to explain a 17-times volume candle alone.
My lines are $0.332 support and $0.365 resistance, the spike high. A 4-hour close back under $0.332 and I drop the strength read entirely; a close above $0.365 and the squeeze story needs rewriting.
If that close under $0.332 comes, I call it a failed spike. What test would change your mind first?
Not financial advice. Do your own research.
$TRX #Altcoins #TRON #OptionsTrading #ShortSqueeze
After days pinned near $0.332, TRX printed one 4-hour candle that spiked to $0.365 and closed at $0.352, on nearly 17 times the average volume of the candles before it. That is not drift: that hour's liquidation tally showed shorts liquidated far heavier than longs.
Two readings are on the table. One says new access did it, with TRX options launching on a major retail platform on October 28. The other says squeeze, since options volume is still a tiny corner of TRX derivatives, far too small to explain a 17-times volume candle alone.
My lines are $0.332 support and $0.365 resistance, the spike high. A 4-hour close back under $0.332 and I drop the strength read entirely; a close above $0.365 and the squeeze story needs rewriting.
If that close under $0.332 comes, I call it a failed spike. What test would change your mind first?
Not financial advice. Do your own research.
$TRX #Altcoins #TRON #OptionsTrading #ShortSqueeze
