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Trx_btc

TRON TRX Possible Scenario - Bull Flag Formation TRX jumped out of nowhere earlier today. (I've been told in the comments it got pumped because of a listing) Spectacular and all that. But a jump this big, this fast always has a consequence : running out of steam very fast. MACD 2H looks as surprised as we are, right now. :/ So, I'd say TRON is looking for some Snickers right now, to be ready to make the next Elliot Wave. Last time the 3rd Motive Wave happened was when 2H MACD crossed upwards. I expect a phase cycle of MACD 2H candles to be completed on the downard phase, before we can see another pump. With that in mind, I believe TRX will form a Bull-Flag Triangle or a Bull Pennant until that happens and the exit from that would be our queue for the next wave. I also believe this will take some time to happen - no rush. I also reckon a good buying area for the next Motive Wave to be between 530 and 580 satoshi. Dream Scenario would be a retracement to 500 sats, but I don't think that is likely, since MA(100) forms a strong support at 530 sats. With that in mind: lower than 500 sats and staying there = trouble.
Long
by reynar
10
TRX - The sleeping giant, waiting to be awaken by BTC.We have a clear symetrical triangle, that previously looked like a head and shoulders pattern. As this depletes the sellers back closer the support line, we can see a break out may be imminent. While the degree of breakout is unclear due to BTC being the driving force in the market right now, there is a slight possibility in this being a decently sized 1-5 EW pattern. If we have seen the first two waves, as marked, we could be in for some fireworks for an upcoming wave 3. This is all speculative at this point, but has a possibility of occuring if BTC can stabilize for a bit. The volume has dropped a bit, but is still enough to produce such a pattern, if conditions are favorable. Will post an update tomorrow night, as we see what unfolds.
by Pburke2323
5