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Trxbreakout

My first attempt at TA for TRX (Tron) !!!DISCLAIMER!!! - Bear in mind that I am new to all of this, and this is by no means investment advice. Don't make investments based on my analysis or advice, do your own research and make your own decisions based on what you yourself believe. Based on my analysis of the trends and patterns shown for TRX a j-curve and breakout is imminent within the next 48 hours. My estimates are a new ATH ~4200 Satoshi before a retracement back towards ~1500-2000 Satoshi if the previous pattern is to completely repeat itself. (~580% increase from the start of the J curve to the end) Tron has been moving sideways for the past few days and have broken out of the downtrend channel formed by the previous ATH and the trend reversal that occured during the January-crash. While the market volatility have clearly been a catalyst for quicker corrections and trend reversals as the coin has reached the strong supports quicker the pattern is eerily similar to the pattern show in the correction after the PREVIOUS ATH in December. Comparing these two patterns and the points where they broke out of their downtrend channel the consolidation period is now over, and the coin is preparing for another pump. Judging by where the long-term uptrend supportline crosses the downtrend channel resistance from the previous ATH, and where this same incident occured in the current period we are less then 48 hours away from the first attempt at breaking the resistance line that was tested during the breakout. Let it be noted that the breakout from the channel resitance also happened in the exact same way in the previous period. (a short upward thrust out of the resistance and then sideways movement for a few days) If we expect the pattern to keep repeating itself we will see the first attempt at breaking the new resistance line get rejected, and bounce at our current support line before breaking the resistance and moving into a parabolic uptrend within the next few days. We could possibly see the new ATH spike up and peak as soon as sometime around 29th-31st of January before slowly retracing. Assuming there will be no new major market corrections in the coming months the next consolidation period will presumably be much longer as there will be no catalysts for the TRX to quickly reach its new support level. Any thoughts, comments? Did I do this right or make any major blunders? If you found this helpful in any way, and want to support me: TRX Wallet : 0x40d48ad6e5d4ab416dbfd586912aa1112a317874 BTC Wallet : 1PvN7WcAZs2uZJigdVRm73QM8uok9AkiMC ETH Wallet : 0x40d48ad6e5d4ab416dbfd586912aa1112a317874 Sincerely, - Oz
by AasmundBergeEndresen
2
#TRX #TRON +78% target 0.00001456 BTC next 28 hours1h charts show a second bullish flag after the first bullish pennant rally. See updates for that chart. 4h charts show we're entering into the ichimoku resistance cloud with a great chance to break through to the higher level with the 1h upcoming +24% rally over the next 6 hours. 4h charts also show that we are forming a bullish flag with a combination of the two 1h chart rallies, for a larger rally with a target of +78% overall. First Target: 0.00001017 Second Target: 0.00001301 Third Target (completion): 0.00001456
Long
by Tin.Foil
14
Tron TRX Forecast - The most FUD'd CryptoCurrencyTron is the most FUD's altcoin to date. However TRX has the potential to actually rocket to the moon and out of orbit! History shows us the most controversial companies are usually the companies which revolutionise the industry. Tron has the capability to do this. What Tron is trying to achieve is incredible and it comes to no surprise the amount of hate around this coin. Chart shows support around 450 - 500 area. Considering BTC is down, TRX is building foundation around this area. Basically TRX shall start again from where it pumped to 2,000. Tron has yet to release a product and we are sure that Justin Sun is beefing the developer's team. Investor's are hoping for a partnership with Alibaba imminently. Investors also want lambo's overnight :) It seems obvious that Jack Ma is showing interest(does not mean financially) in Justin's start-up. I find it hard to believe that a start-up company is stealing senior developers from the biggest retail company in the world. Jack Ma MIGHT be "transferring" these developers. Eventually if TRX's product is successful, Alibaba's partnership won't seem far off. Think about it! This is not an investment advice, always do your own research.
Long
by itradearn
2
TRX hitting the lowest low soon before trend reversal Hi All - Just an update to my last post. We will soon hit the lowest low possible. A trend reversal is definite possibility now. Expecting a low in the range of 280 - 460 before a major trend reversal. We've already rode the 1st complete cycle of Elliot Wave followed by correction . Volume still holds well above 25,000 BTC even after this severe correction, Confirming the market intent for a TR. Share your thoughts please. Thanks
Long
by cryptickem
4
TRX - Break out possibility As i'm writing this, it looks as if TRX 2.47% is gaining in volume (+6000BTC in one hour) and is already starting a bigger upward move then it has in the past 2 days. Look at how tight the Bollinger bands are compressed up, and we're right at the bottom of our downward wedge . We could quite easily stay moving sideways for a couple days, there no doubt that whales are helping keep price down. First target is 1039 sats at 50% fib, lets see if it can hold here then progress further upwards of 1200 possibly spiking at 50% fib and hopefully holding back around our 50% fib. I also remind you that there's a press conference being live streamed from China and started 5 minutes ago. What do you guys think? Always great to hear other opinions or anything you think I may have done wrong.
Long
by TheBRolla
6