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TRX - May need a bit longerTRX (Tron) did break out of the last downward pointing triangle, as expected. Sellers were too depleted by that point, as we can see by squeeze occurring toward the apex of that triangle. It broke out slightly, with some large volume, but since has trended back into a pattern that may be another, albeit smaller downward pointing triangle. If this is the case, we may see targets within the triangle over the next week, while more sellers get squeezed out again. Notice previous to the last triangle, there were others prior, and each time they have reduced in size and duration. If this pattern continues to play out, we can expect it to be shorter than the last, and another possible breakout at the apex. For the breakout to be substantial this time, we will need bitcoin to stop climbing, as nearly all alts right now are bleeding due to people taking money out of them, and riding the bitcoin wave.
Short
by Pburke2323
TRX FINAL STAGE IN GOING BEAR TO BULL..... NEW BOTTOM OR DOUBLE?TRX EVERYTHING IS CLEARLY LISTED.... WE BROKE UNDER MAJOR SUPPORT THE 38 FIBONACCI WHICH HAS HELD WELL RELATIVELY.... THE 100 DAY MOVING AVERAGE IS DIRECTLY UNDER THE PRICE ACTION RIGHT NOW AT AROUND 380 COULD BE JUST WHAT WE NEED. HOWEVER BEST TO UNDERSTAND THE OPTIONS. DOTTED GREY LINE IS THE MIDDLE OF THE CHANNEL. WE HAVE HIT BOTTOM TWICE AND TOP TWICE.... WE SHOULD ESSENTIALLY HAVE TO COMPLETE ONE MORE JOURNEY DOWN TO THE BOTTOM CHANNEL. HOWEVER THERE ARE THINGS IN PLAY HERE... BIGGEST NUMBER TO WATCH IS THE 380 LINE IF WE HIT 379 WE DONT HAVE ANY MAJOR SUPPORT IN SIGHT
Short
by savenido
3
TRON's turn to go up!With BTC, LTC, and ETH's rise in prices, the altcoins have started playing catch up. Ripple (XRP) and Appcoins (APPC) have made good progress in putting in a bottom. Is it Tron's turn? I could see Tron reaching back down to $0.02 earlier but with everything going up and the Chinese new year, I see more potential to the upside. We had some good volume yesterday 24 hours ago on 2/15 6pm EST but came back down pretty quickly. Still in a descending triangle formation getting closer and closer to breaking out. If we go up, I anticipate first targets to be around the 700-750 satoshis. We have confluence using a fib extension from low of 400 sats to previous high of 630 sats. The 1.618 extension lines up within the TP1 box based on S&R levels along with a retracement from ATH to 400 sats .236 level. After hitting this level, I would expect a retest of previous structure of 620-650 sats. This is not required if we have enough volume to take us to TP2 level. TP2 has a nice confluence level as well with the same extension at 2.618 and a retracement from ATH to the .382 level, 900-1000 sats. Let's see how TRON plays out. Comments and feedback appreciated, good luck!
Long
by dcardona1
2
Buying the breakout of a second wave on yearly trend is $$$$Confirming 2cnd impulse wave has started.... now where we go in the next couple days will tell us if we go the long way to 70 cents which i prefer or the short way. I prefer the long way because if we go under 32 cents we will form another cup plummeting price to the bottom trend line where we reposition. I bought at 3 cents 10x my money now I have 8x more position laddering in from 3 to 7 cents!! Hopefully we are blessed with the long road!! Patience
Long
by savenido
3
TRX TRON #TRX CLOSEUP LOOKS VERY SIMILAR TO THE BIG PICTUREI BELIEVE THIS IS MORE OF A 1 AND 2.... JUST LOOKING AT THE INVERTED HEAD AND SHOULDERS COMPLETING THE MOVE RIGHT AFTER THAT WAS A NICE LITTLE BREAKOUT UP 40 PERCENT..... THIS NEXT WAVE SHOULD STOP 5 PERCENT ABOVE ABC CORRECTION AS INDICATED IN OTHER TRXBTC POSTS WE SHOULD BE SIDEWAY FOR A COUPLE MORE WEEKS OF ACCUMULATION TIME. THAN TO NEXT STOP ON THE ROAD TO 75 CENTS IN 7 MONTHS..... ID JUST ACCUMULATE. BOLLINGERS ARE TIGHTENING AND PRICE ACTION ON BOTTOM WE ONLY CAN GO UP BUT MIGHT SEE SOME SIDEWAYS ACTION BETWEEN THE FIBONACCI LINES
Long
by savenido