hey guys welcome back to the channel welcome back to finding strategies so it’s about 9:45 a.m. Eastern here in u.s. April 23rd I want to bring you a quick update on Tron we have colored crown on it on this channel now for a while now so Monday morning I want to bring you up there on Tron because I think we have been sitting in this channel a sideway channel for a while now and I think there might be a breakout that will be coming soon alright so before we get it started on the technicals if you’re new to the channel please make sure to subscribe to the channel hit those notification and those bell icon so you can get this content right away and if you think this videos are helping you with your trading in crypto market then do give me a thumbs up that really means a lot and keeps me motivated in doing this video with you every day alright so let’s get it started as I said Tron is trading around 5 cents so it let’s do a quick recap on Tron so I was to kind of like in a walk through and do a quick recap on how it like came to where it is right now so truant had an initial breakout back in December massive breakout back in December it came all the way to the 5 cents had a retracement then consolidated in that late December timeframe and then had a massive spike and went all the way up to about 24 cents 24 25 cents at that time it was extremely overbought I made initial value on it on saying that not to get into Tron because it was extremely or God since then we have sold or sold off drastically and we try to bounce again did not work then we sold off again with the overall market and since then what we are just doing right now is been sitting in this channel or this trading range between 5 cents and 2 cents so if you see this the red around five cents and the blue line is around two cents so we have been sitting in this channel a sideway channel for almost last couple of months and Tron and there will be eminent break out in Tron fairly soon in my opinion just because it’s been keep on testing that five cents it tested back in February timeframe mid February again in late February in March mid March right now again in April mid April so I feel there is a the price action is trying to get out of this range and the momentum seems to be right now toward the bull side and obviously the overall market condition will dictate how will be how the breakout value um if it’s going to be sustainable breakout or if it’s going to be more of a fake-out varied like you know get out of this price range but then it comes right back alright so the overall market really has will dictate a lot of those things a couple of things that I am watching for is this major trend line that is coming all the way back from December it will act as a resistance going up so we want to make sure that we are like you know watching that trend line because it will act as a resistance going up okay we are right on that resistance line right now so if we can break that resistance line it will be extremely bullish alright and the volume the other other main thing that we really need to look into is the volume we need to make sure the volume picks up that’s a good sign of a sustainable breakout okay so tron overall there is a good team behind Tron I in my opinion I mean as far as like you know being active on social media and what have they been promising and what do they have been communicating so far so I mean it’s a new team it’s a it’s a start-up project alright it’s not a well-established project so make sure like you know you treat it as is it’s not one of those coin that is or have proven itself is not even that old it’s not even a you know in market for my year now so it’s still you can still call it a speculative coin because this hasn’t really proven itself so you know make sure you do your own due diligence before getting into this kind of coins see what kind of risk level that you are comfortable with those are the things that you really need to look into that hey is it okay for me to take this kind of risk is it okay for me to get into speculative coins so those are the question that you really need to ask yourself alright I’m not a financial I’m not your financial adviser you so you need to make those kind of decision I don’t I don’t know what kind of like what is your background I don’t know what is your portfolio size and all those things so there are a lot of things as goes into it so make sure you do your due diligence alright that’s always a good habit and this is this is the habit it so the more you do this kind of things that becomes your second nature and it will just come automatically without even second-guessing it alright so you want to make sure that this you follow this kind of habits so it becomes your second nature alright so let’s do a recap again so we are in this channel right now we are in this side way channel between five cents and two cents if the market condition takes like if we have like in a positive push in the market I can easily see Tron breaking this five cents or resistance and going toward six cents for an intermediate target and then perhaps toward around seven cents for the for the second target and that’s a that’s a pretty good return from where it is right now so if you think about it let’s say if you get into the trade right now and you take us six cents that’s about sixteen percent and then like you know the seven cents is about 41 percent so that’s it or seven point five cents point zero zero seven five so that’s about forty percent so that’s a pretty decent return on a coin that is like you know looking – and to break out okay so few things as I said volume needs to pick up on that breakout and we need to make sure that we have a positive market condition so that’s pretty much it on Tron just want to have a quick video on it and give you an update we haven’t covered it for a while so hopefully this is helpful let me know if you’ve any questions post it in the comment and we’ll go from there all right talk to you soon

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