Tron looks like it has found bottom. Clear Wyckoff Accumulation.
Updated
Tron is in a insanely clear Wyckoff Accumulation pattern, and it honestly looks very similar to schematic 2 that suggests we will be moving up. It seems like this pattern was intentionally painted on the chart. The accumulation pattern Tron is in is much more clear compared to other altcoins such as Litecoin.
Keep in mind Tron will most likely not follow either one of these patterns, but I posted this because it seems to be following schematic 2 to the letter so far.
However, I am still skeptical right now. With Bitcoin nearing the trendline once again but this time at 6400, it seems inevitable that we will get a big decision very soon, whether that is to move up or drop into 4600 accumulation.
Personally, I believe in the bearish schematic one that suggests we will drop (around 40%) into a lower low before finishing the pattern and moving past resistance.
However, if Bitcoin breaks past 6400 and the sentiment turns bullish again, it is very likely Tron will follow schematic 2 that suggests we are ready to move up past 420 sats.
Thanks for viewing! I have noticed this pattern for a long time but waited for it to develop before posting. We are now at the decision point. I am short Tron since 395 (the current price is 372). If we manage to move past 390 I may consider closing my short.
I am still collecting members for my private chat group. If you are interested, please send me a message. I post all my trades and explanations there.
Keep in mind Tron will most likely not follow either one of these patterns, but I posted this because it seems to be following schematic 2 to the letter so far.
However, I am still skeptical right now. With Bitcoin nearing the trendline once again but this time at 6400, it seems inevitable that we will get a big decision very soon, whether that is to move up or drop into 4600 accumulation.
Personally, I believe in the bearish schematic one that suggests we will drop (around 40%) into a lower low before finishing the pattern and moving past resistance.
However, if Bitcoin breaks past 6400 and the sentiment turns bullish again, it is very likely Tron will follow schematic 2 that suggests we are ready to move up past 420 sats.
Thanks for viewing! I have noticed this pattern for a long time but waited for it to develop before posting. We are now at the decision point. I am short Tron since 395 (the current price is 372). If we manage to move past 390 I may consider closing my short.
I am still collecting members for my private chat group. If you are interested, please send me a message. I post all my trades and explanations there.
Note
Another possibility.
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Keep in mind scenario one would have a Tron bottom sub 270 levels. I am more inclined to believe that will occur. As mentioned above, Tron seems to be following scenario two so far, but I have a hard time seeing a move up right now due to Bitcoin correlation.
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Still following schematic two.
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I still expect schematic one, or sub 270 levels for Tron.Note
This idea aged very well :)
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