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Tronix

TRX Looks Like It Could Use A BreatherMy TRX analysis has probably been my most spot on analysis so far, so I'm proud of this one. I originally suggested that TRX was bullish after rallying back above its broken support, (in blue) when it was still hovering around 350. Then it broke out of its triangle, as I said was pretty likely given price action. I also suggested that the breakout at 430 would have been a safe long entry. Since then, if one had followed this idea and exited when the weekly RSI reached overbought (above 800), you'd have walked away with 90-100% profits. If you bought even earlier (in the high 200's or low 300's) you'd be sitting at up to 300%. I entered at 376 and then 318. I exited a little early (close to 600), but that's okay. I'm still learning, which is why I don't day trade much. We even overshot my target (green X) but then quickly got rejected. I called this one very early because the signals were pretty clear to me. You can see my two previous TRXBTC charts here: However, as I said towards the end of my last TRXBTC analysis, weekly RSI had reached overbought with heavy volume, which signified we were near a top. I noticed on Reddit a lot of people were trying to time the dip and going "all in" above 700 sats. These people are gamblers, to say the least. I said we'd probably topped out when we were over 800 sats, and since then we have had a pretty major pullback. I think we can now expect a bigger correction. Potential targets would be my red X's. If 660 breaks down, we could fall to the newfound support in the 554 zone (broken resistance) or at 430 (the big breakout point). TRX remains long term bullish, so I wouldn't go full-on bearish until any lower supports are broken. This is simply an idea to show where we could head if we have indeed topped out for now. If we consolidate above 660 and move up, we could break 860 and test 1000-1500. Of course, we could consolidate here and head higher to retest 860, especially if Bitcoin bounces. If I were to short here, I'd probably set a stop loss. My red targets are zones where I might personally look for re-entry, as I scaled out of TRX and into NEO, which I think is showing a similar bullish accumulation pattern to TRX before its breakout. That's my personal trade though, and it might not play out as I hope it will. This is not financial advice, and I'm not a professional financial advisor. Just because I made an excellent call once doesn't mean I will continue to do so, and it doesn't mean that my target prices HAVE to be reached. You choose what to do with your own money. -Victor Cobra
Short
by VictorCobra
2
$trx forming c&h can be plotted using the weekly stoch flickson the weekly tron chart we can see a nice cup forming which will soon start dropping to create the handle. historically the weekly stoch has show good entry and exit points for tron and currently we are on the roof waiting for the drop off (most likely this weekend, post nitron event). once the stoch leaves the 70-100 zone we will start looking for longs around the mid 500s, however we need to watch out for justins pumpotronic speeches that can cause tron to do stranger things :)
by cooper_5e
3
I called the previous Tron bottom. My current thoughts.I have called the previous Tron bottom three months ago. Check that out in the related ideas section. As you may know, I have been a permabull on Tron for very long. It is because I own Tron myself, and I am biased, but not without reason. Tron is a good buy and hold. 1. Tron team has cash to last at least until 2021. There was over a billion USD worth of Tron sold at the previous top by early investors. I believe they will provide more capital if needed. 2. Tron has a strong community. 3. Tron has good marketing. Because of those reasons, Tron will be a good long in the bull market, and I believe it will perform very well. Furthermore, somebody has been painting an accumulation pattern for Tron, so we know that Justin is willing to use his own money to paint a good chart. Perhaps Tron has bad technology, but what matters most is marketing. I am not attempting to call the top here, but just know that I will not be buying at these levels. I bought the bottom. I do not want to risk adding more at the top.
Long
by HD1184K
Why I am Cautiously Bullish On Tron (TRX) Right NowHard to completely stay away from this market. Not really trading during this time, but I wanted to post an update on my TRXBTC chart, since I find it interesting that Tron is one of the few altcoins to maintain its bullish stance against Bitcoin in this bear market. It also remains significantly up since this time last year compared with many projects. Regardless of the FUD it gets, Tron clearly instills more investor confidence than many other coins. Since my previous analysis (linked at bottom), Tron has maintained its Bitcoin value. We also retested the rising diagonal support within the EXACT same timeframe I predicted, which was kind of fun for me to watch : ) Over the last couple of weeks, we've seen a big market selloff, and Tron remains down in USD value, but after breaking down below its uptrend line against Bitcoin (in blue), it rallied back above it. Now, we can always crash back down below it (currently at the 350 level). However, it is clearly showing bullish price action. There is a significant chance that this coin makes a surprise break to the upside soon, so I'd keep an eye on it. This is one of the coins I bought more of on the recent dip (bought at 318). Daily RSI seems like it needs to cool off a bit, but that can still happen after the next push up. Weekly RSI still has a lot of upside. I think a test of the pink triangle/horizontal converging resistance at 420 is in the cards, especially if Bitcoin remains stable above 3900. On the bearish side of things, if TRXBTC goes below 349/350 and then the newly established strong support at 290, we will probably be seeing some more significant downside. It all depends on which way the market wants to go. I have a feeling TRX may be one of those coins to attempt to decouple from Bitcoin if the bear market extends for many more months with some serious sideways/down action. Support: 350 (near term) 290 Resistance: 390 420 625 750 1000 This is not financial advice, nor am I a professional financial advisor. Previous TRXBTC analysis: -Victor Cobra
Long
by VictorCobra
1
TRON! Not quite ready for Hollywood!Don't pull a Kobe - PASS! Just like the original TRON, these guys went Hollywood! However, as it turned out, the real money was in the gaming! While the original TRON was successful in Hollywood as well, the new dudes will have a tougher time! At some point they will have to go to microtransactions to make money - which will kill their network! Use some common sense - you can do the same stuff for free on the web, and reach way more users! No bottom for this one - they should have killed this one off a while ago!
BITFINEX:TRXUSDShort
by DanielSong39
TRON Ascending Triangle Breakout (MASSIVE POTENTIAL)Hi guys - this is my first TRON idea and it will not be my last. I am a big fan of this project and believe that Justin Sun may actually achieve his 'decentralised internet' idea. TRON is currently sitting in the upper levels of an ascending triangle, of which it is looking to break-out upwards. Since early August TRON has been in the accumulation phase with retail and, highly likely, institutional investors increasing their holdings. It is likely to fall to 0.02 before jumping out to the upper levels. I do not wish to spread unrealistic price predictions, but I believe TRON is a largely overlooked project that has massive potential. Do your research into this project and you will realise.
BITFINEX:TRXUSDLong
by StirlingBishop
Tron looks like it has found bottom. Clear Wyckoff Accumulation.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.
Long
by HD1184K
1
Tron Tronix TRX 1 DAY Pivot + TimeUpon request this is an IDEA for price movement on Tron. The chart you see is based on pivots, midline trends, time, sine and intersections. Tron was over bought in a major way BUT considering its fairly new and the bear market, it's held it's own well. The striped lines may provide START and END points for cycles that in theory should bring nice gains. Any intersections marked are strictly points of interest and or sine markers. ENJOY AND PLEASE DO YOUR OWN RESEARCH!
BINANCE:TRXUSD
by CaptBlackBeard
TRX will make you rich soon! within the next 3-6 months!!!! From a grand prospective, TRX 1.59% is in 3rd wave (often the longest and never the shortest out of the 3 motive waves which are 1,3 and 5 | 2&4 are corrective waves) When it reached 10 cents people (including myself) were calling it wave 1 of wave 3 grand super cycle. It is clear that the 10 cent mark was B wave and we finally bottomed at around 1.7 cents. We are entering GRAND wave 3 now! Hold on for the volatile ride because we are going up from here!! Obviously we will have corrections during this ride but for the most part, it is heading upward! See you on the moon!
by Samthecarpetman