Sorry about the last chart. I am new at publishing my ideas. the last one had rsi and macd, which i dont even look at any more and it took up so much space. Ontop of that, it only showed the last month of data. My intent, is for this one to show the bigger picture i See, so you can zoom in to see smaller things.
Ok, so the basic idea is that the yellow lines are just basic major lines of resistance and support. I don't look at new/recent data to put lines, i generally prefer to look at data from 1+ months before to see where resistance will be, then looking at recent data for possible confirmations
In my opinion Tron/TRX generally does not follow btc unless btc is on the edge of falling off a big trend. I saw tron dip the last two times almost based on its own TA. Now we have BTC going up and TRX going down. This reinforces the idea that Tron is going off its own TA. With the announcement later, possibly it will drop before it goes back up again.
Any drop before or at 716 looks good to me for TRX to roar back up and possible fight around the 1k range again. But a retracement to the .1 (644 sats) will be even better. There is no real resistance in that area, and i believe that will give people who want to buy at the time (bulls) a good buffer space to safely accumulate and help generate steam on the movement upwards.
Based on the fibs, we are in both .25-.5 retrace areas. It is hard to say what will happen with the release. I never expect anything good, because big events are always easy ways to make money. I am more concerned with Exchange additions and hard forks as ways to make easy money. BUT I believe it will continue downward. 716-740 is my next bounce zone to test,. this means that i believe it will bounce and go up a reasonable amount (~5% at least) in order to retest new resistance/old support. Though looking at both fibs, I would prefer seeing buys at 622-644 for a long term buy.
Ok, so the basic idea is that the yellow lines are just basic major lines of resistance and support. I don't look at new/recent data to put lines, i generally prefer to look at data from 1+ months before to see where resistance will be, then looking at recent data for possible confirmations
In my opinion Tron/TRX generally does not follow btc unless btc is on the edge of falling off a big trend. I saw tron dip the last two times almost based on its own TA. Now we have BTC going up and TRX going down. This reinforces the idea that Tron is going off its own TA. With the announcement later, possibly it will drop before it goes back up again.
Any drop before or at 716 looks good to me for TRX to roar back up and possible fight around the 1k range again. But a retracement to the .1 (644 sats) will be even better. There is no real resistance in that area, and i believe that will give people who want to buy at the time (bulls) a good buffer space to safely accumulate and help generate steam on the movement upwards.
Based on the fibs, we are in both .25-.5 retrace areas. It is hard to say what will happen with the release. I never expect anything good, because big events are always easy ways to make money. I am more concerned with Exchange additions and hard forks as ways to make easy money. BUT I believe it will continue downward. 716-740 is my next bounce zone to test,. this means that i believe it will bounce and go up a reasonable amount (~5% at least) in order to retest new resistance/old support. Though looking at both fibs, I would prefer seeing buys at 622-644 for a long term buy.
Comment:
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Not much to say. The movement has been exactly on point. The chart speaks for it self i guess.
If we fall under this line at 622, I would look to 587 for a possible retrace to 622 then a drop or a bounce off of 543-548. Not much else. The lines seem to be doing their job.