Staying on track with our goal of being more focused on technical analysis, our team has been scouring charts for signs of harmonic patterns indicative of future price action movements. Sometimes, as we did, you’ll find the beginning formations of a pattern...
Based on the rules necessary for a bat pattern to be validated we feel as though Tron is in the process of completing the patterns “D” leg.
For now, we’ll be watching Tron closely as price action either validates or invalidates this analysis. Should the bat pattern become validated point “D” is certainly looking like a healthy place to buy however we did notice a potential, shorter-term Gartley pattern forming which would put a healthy buy-in at a much higher point.
Do either of these scenarios seem likely to you based on your own analysis? Feel free to share any you may have done yourself!