TRX - Forming 4 Month Cup and Handle Pattern?This is just a quick observation I thought I might share. The Trading View data for TRX:BTC only goes back as far as early January, so I have based this off a chart I put together in Coinigy. The red line is previous resistance which we will probably retrace from due to the fact that volume is dropping off and we are well and truly oversold after the bull run over the past 2 weeks. If we do retrace from here, and find ourselves falling with light volume within the small downtrend channel in black (or close enough to it as its difficult to guess exactly where this channel might form given it hasn't actually formed yet!), then we have ourselves a cup and handle that has been forming since January 9th. Note: The bottom line of the downtrend channel finishes at the 38.2% Fib level (729 sats) where we have support.
If this pattern completes, and we break up out of the top of the channel and confirm above the rim in the highlighted buy zone with supporting volume ; then we have a target of 1558 sats. This would represent a massive 50% profit (or there abouts) depending on where you buy within the buy zone. If you are super risky (which I wouldn't recommend!) you could buy at the bottom of the down trend channel and aim for 70-80% profit if the target is reached, making sure you of course set a stop loss below it in case this pattern doesn't actually form. However I totally would not recommend this approach!
In addition, please note the green arrows are not meant to show exactly where the price will go. I add these in only as an indicative and generalized direction!! So long as we form a slight downtrend channel with light volume, then we could definitely be on to some nice rewards!
Again I must stress this is just an observation of something that might be forming. The next week will tell us more, so first we look for a retrace in the next day or two from the red resistance line and see if we start to form our handle. If this does occur, I will be sure to provide an update which will most likely be on a new chart so we can examine our channel more specifically.
Cheers
Tronbtc
TRX making you smile soonHere is a daily chart on TRX, its a very simple TA, mostly works for me
Here we can see that we have made some moves after the Beta net announcement and we went up to 800 sats. consider this move as Wave A.
We have finished retracing and now back at about 530 sats. This is our Wave B.
We are breaking out of this level to enjoy our Wave C and i believe this will take us to 800 sats, we will then retrace (Wave D).
finally we enjoy our longest Wave E aiming for 1400 sats, I believe this will accompany the main net announcement/release (31st May).
Please dont fully depend on this post. DYOR.
Enjoy your trade, 300% potential coming your way.
TRON: NEW DEVELOPMENTS = 82.75% PROFIT!!!Our "Crypto Bottom" Trade Indicator has correctly identified a buy in point on the 25th of April 2018.
Using this buy in point and selling at today's price, you would have expected to net 42.20% PROFIT!!!
The increase in price may also be explained by positive developments including:
14 April: TRON launches Project Genesis: a reward pool totaling $2 billion USD and a variety of programs—all for the TRON community and developer
21 April: Bit-Z will support TRON main net migration
21 April: TRON airdrops 30M TRX 7.12% to Ethereum 6.23% holders.
22nd April: TRON is the second most active developed cryptocurrency on Github.
24 April: TRON launches TRONSR forum.
24 April: TRON will be listed on Coinbene.
24 April: TRON starts trading on Bittrex.
(NEW) 28 April: TRON is ranked by TokenInsight to be the first in line code submissions and indicator of development activity.
(NEW) 28 April: Bittex publicises that they will support TRON's Ethereum ERC20 token to a new TRON mainnet and blockchain.
It is also noted that The Tron Main Net is poised to be launched on 31st May 2018 with TRON will be migrating from ERC20 token to TRX starting from 21st June 2018. It is noted that the Super Representative elections will be held on the 26th June 2018 (a Super respresantive is the bookkeeper on the TRON network. The elected number will be a total of 27. They are responsible for verifying the transaction data distributed on the network to perform package transaction and create blocks).
An increase is trading volume is driven by Korean and Chinese Exchanges accounting for roughly 97.55% of all trading volume.
TRONBTCTRX is in up channel since 18 April started @0.00000314 to @0.00000800
We Expect a continuation of rising but Currently should be calm down and it already bounces down from the upper board of the channel,
So the first station will be 0.00000690 which meet 0.236 Fibo ret
Thank you
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Tron in an Ascending Triangle Breakout Pennant.Hey, I am back with another Idea .
This time looking at T ron.
Tron had a lot of controversy in the past, but the creator really believes in the Tron with the whole China being excited for tron, at 31. May is Tron releasing they Main net, which can lead to a pump or a dump.
That was in short about Tron.
Taking look at the chart.
There is a Ascending Triangle breakout Pattern that has formed.
Taking look at Indicators.
MACD looks good, seller s are slowly leaving, buyers incoming.
RSI needs to cross and bounce from 58 level to be bullish.
I think thats about it.
Hope I made your view on whats going on with Tron somehow clearer.
If you like this TA let me know in the comments, Likes are aprreciated, Thanks !
If this gets a little bit of attention, I will update!
Tron - Huge Cup on the Making. New ATH by end of Q2-2018Tron- TRX shaping into what looks like a huge cup on the 4H chart. If that plays out - It could dip till 630 and then look towards breaking out.
Given the fact that tron has several updates coming up in Q2 including their main network launch and thereby migrating from being an ERC20 token and running on the Tron Public Blockchain from June 21st- 2018 onwards.
Also, having USDT pairing on exchanges such as Binance, Bitfinex & Bittrex gives it more stability.
TRX perfect Bat... ShortOk people... after reach the 1:1 BC ext of the last blue gartley at 814... its has formed a beautiful and perfect bat... which will lead TRX to 754 - 736 levels.
Short at 800-805 before the breakdown...if we can.. otherwise 793 could be the chance.
Reload at 736 - 754.
Good Trade
-CJ-
TRONIX next movesSky is the limit in this 2018...
3 possible patterns in formation:
Gartley Target: 0.076611
AntiShark Target: 0.082059
Crab Target: 0.08978
This is not a trading advice, just for educational uses.
Anyway, if this helps you to take your own decitions, enjoy your profits.
Good Trade.
-CJ-
TRX/BTC 5th Wave ScenarioI am new with Elliot Wave Theory but wanted to give it a shot on TRX 2.04% with the current run its been on. I laid out the 5th wave scenario assuming the 4th wave is complete after wicking down to 740 and then bouncing off the .5 level at 758. Also Stoch RSI is reset and looks ready to run again. Open to ideas and criticism, going to see how it plays out from now to Friday. Assuming minor ABC corrections along the way up.