TRX - It's day will come!
Previously I had posted that while we broke out at the apex of a right triangle, we could be looking at another slightly downward triangle, which is noticeably smaller than the last. We also may be in wave 3 (which we know is generally the longest. If we are, and we approach the top of the triangle, we'll need significant volume to break through that resistance point. If that happens, we could be off to the races to finish wave 3 before a correction. If the focus remains on BTC for the time being, and not there isn't enough volume/buyers to break the resistance, we're likely to see it bounce off the resistance, and remain inside the triangle until more sellers are depleted. This could take us to the apex point of this smaller triangle before the next attempted breakout.
A second and more likely scenario as time passes is that we're just about to complete a head and shoulders pattern, which will drop us back to support levels in the next day or two, and from there we'll see a bounch off the floor, and a pattern that may mimic the further elliot wave pattern shown to the right of the first one.
A second and more likely scenario as time passes is that we're just about to complete a head and shoulders pattern, which will drop us back to support levels in the next day or two, and from there we'll see a bounch off the floor, and a pattern that may mimic the further elliot wave pattern shown to the right of the first one.
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