TRX/BTC What Is Actually Going On With Tron? The Decision Point.Hey Everyone!
I am Back with a analysis on Tron.
You are definitely not the only who is sad by looking at descdending Tron graph.
So I told myself, I will do an Analysis on what is actually going on, I hopefully made it simple so anyone can understand it, learn something and find a good position!
I am a Fan of Tron, I am definitely holding. It had huge breakout, but the sell wall was the same as breakout.. What does that mean?
Looks like everyone has taken their profits or as lot of people says Whales.
People/Companies with big Wealth manipulating the Market.
Back in the Chart.
We can see a huge Falling Wedge that has formed.
"The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout.
The falling wedge can also fit into the continuation category. As a continuation pattern, the falling wedge will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend. Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns."
95% Retracement just shows the Market manipulation.. This is not really seen..
Although Tron has huge Volume, It havent still broke out.
So we Have 3 ways, 3 posibilities, 3 scenarios.
Green.
First of all the Positive one, I am bullish on this one. Classic ABCDE Breakout, approx. 240%.
Cyan.
The Boring One. It will just bounce from its support and form a channel. Can fall under support or break the channel resistance, but it will take some time.
Red.
The Nigtmare. Bad Volume. Big sell walls. Panic. We are Under the first support line. From there it will fall to second one, and stay in that channel for some time.. Could go down, Could go lower..
What more to say? Good Luck With Your Trading. Hope my analysis helped you a bit with your decision with Tron consider leaving a Thumbs up I really Aprreciate it :).
If you have any questions feel free to comment bellow!
Thanks!
