Monthly Contracting Triangle CountThis contracting triangle with reverse alternation is probably the better count compared to my last chart, both are still possible but this is my new primary count because it can also be applied to BTC, ETH, and other cryptos. It also fits better on the higher timeframes and it explains why this drop was unusually violent and out-of-the-blue, which means it's likely to get retraced completely, and when the REAL bull run begins things will get a lot more exciting than they did this last run.
This is a very bullish count, but it implies we're still in the correction which began in 2018 and we will probably drift up/sideways for the next 9 months while wave-E finishes up, and most cryptos could even hit ATH this year. After wave-E is finished, TRX will probably begin its vertical journey towards $10+ in 2022. Most cryptos will probably follow a similar pattern of drifting up for the rest of the year and then going vertical in 2022.
My guess for the catalyst is SEC v Ripple going to trial and completing in Q2 of 2022, with a favorable ruling that Ripple's marketing of XRP was legal and not under the SEC's jurisdiction. A favorable trial outcome will allow titans of crypto like Ripple, Tron, EOS, and other developers with extremely deep pockets to begin massive marketing campaigns without fear of violating US securities laws.
It also seems likely that the crypto market has already reached the bottom because wave-a of E is 61% of the price of wave-C, but I wouldn't completely rule out a trip to under 6 cents until TRX moves above 10 cents.
