The clear wave structure, as long as tronzi cant not break the high of the wick, the analysis will be valid. Bearish divergence on multiple timeframe indicates the exhaustion of the buying pressure. The first target of C wave is around 540 sat, it might take weeks to reach there, be patient. The target of C is based on 1:1 extension from A wave, which coincide with the support.
Note
January 10, the volume climax usually indicates the top of the impulse wave, especially in bear market, stay safe tron army :)Note
As expected, the peak is before the btt sale. Its just a marketing strategy that force retailers to buy high and sell low. All good, target is still 540 sat.Note
i feel sorry for trx bag holders, but i wish you guys can learn something from this bear market, a few years later. not every coin regain all time high, bag holding shitcoin is normally not a good idea
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.