ALIBABA ALIBABA
The price is heading in a downward direction
and is now in a correction that will continue the downside as shown on the chart
Alibabapartnership
BABA Diamond bottom continuationBABA has displayed a bump and run, a diamond bottom and a triple bottom all while maintaining its current uptrend, this diamond bottom has led to bullish continuation of the uptrend. Further upsides expected as it pushes through the trend area.
Tron Tron- Whats Going on?I see this going to 474 with a possible sell down to 440 at lowest (.25 ma on total trend) before trying to find good support.
Then i want to see how it tests at 490 (low of old trend) and the 505 resistance line above. If it can beat these, which i believe it can, i am looking for 587 dropping to 543 up to 622-633 dropping to 587 then a rush up to738. Its possible we find resistance at 640-660, but at that point, were now on top of such a big volume area, that i believe the bulls will really kick back in. Then i see TRX heading up to 740-784. 784 is the .5 fib, but 474 seems much more likely as the buy levels really pick back up around.|
Then id like to see it come back to 667 and then shoot up towards 740. And i believe this is where the real test of this trend (assuming we find resistance on the .25) will be. At this point we need create a new high. Breaking over 825 would be amazing for a good signal upwards.
I could see 543 area lasting, but in the short term, it seems to need to create some new highs. I will check it here and there in the next couple of hours and update, but there just seems to be SOOO much resistance above where we are. I feel that we sat in the 587-610 range for too long and now we have even more resistance above.
New TrX Chart, Sorry about the last chart. I am new at publishing my ideas. the last one had rsi and macd, which i dont even look at any more and it took up so much space. Ontop of that, it only showed the last month of data. My intent, is for this one to show the bigger picture i See, so you can zoom in to see smaller things.
Ok, so the basic idea is that the yellow lines are just basic major lines of resistance and support. I don't look at new/recent data to put lines, i generally prefer to look at data from 1+ months before to see where resistance will be, then looking at recent data for possible confirmations
In my opinion Tron/TRX generally does not follow btc unless btc is on the edge of falling off a big trend. I saw tron dip the last two times almost based on its own TA. Now we have BTC going up and TRX going down. This reinforces the idea that Tron is going off its own TA. With the announcement later, possibly it will drop before it goes back up again.
Any drop before or at 716 looks good to me for TRX to roar back up and possible fight around the 1k range again. But a retracement to the .1 (644 sats) will be even better. There is no real resistance in that area, and i believe that will give people who want to buy at the time (bulls) a good buffer space to safely accumulate and help generate steam on the movement upwards.
Based on the fibs, we are in both .25-.5 retrace areas. It is hard to say what will happen with the release. I never expect anything good, because big events are always easy ways to make money. I am more concerned with Exchange additions and hard forks as ways to make easy money. BUT I believe it will continue downward. 716-740 is my next bounce zone to test,. this means that i believe it will bounce and go up a reasonable amount (~5% at least) in order to retest new resistance/old support. Though looking at both fibs, I would prefer seeing buys at 622-644 for a long term buy.
