Then i want to see how it tests at 490 (low of old trend) and the 505 resistance line above. If it can beat these, which i believe it can, i am looking for 587 dropping to 543 up to 622-633 dropping to 587 then a rush up to738. Its possible we find resistance at 640-660, but at that point, were now on top of such a big area, that i believe the bulls will really kick back in. Then i see TRX heading up to 740-784. 784 is the .5 fib, but 474 seems much more likely as the buy levels really pick back up around.|
Then id like to see it come back to 667 and then shoot up towards 740. And i believe this is where the real test of this trend (assuming we find resistance on the .25) will be. At this point we need create a new high. Breaking over 825 would be amazing for a good signal upwards.
I could see 543 area lasting, but in the short term, it seems to need to create some new highs. I will check it here and there in the next couple of hours and update, but there just seems to be SOOO much resistance above where we are. I feel that we sat in the 587-610 range for too long and now we have even more resistance above.
I just don't feel any real sense of bull power. Also it seems we are creating an average price underneath where we need to be on top of(above 543)
If not for this BTC event, there is a high possibility that the price would still be under 543.
Even if it does go up, I believe that it will find resistance above, because it sat in the 587-610 range for far too long. For my mind to change I would need to see tron go above the 622 range. Only then would i buy it at 622. I believe there is no way it shoots past 622 and people do not sell it back down before it shoots up.
I want to see it go above this range, because i believe that there are too many people who will want to sell off the second this reaches where they bought it before the drop. In other words people are losing money right now and want the price to go back up so they can sell off. This lowers the bear pressure that pushes something down. BUT, despite this, the bear pressure still seems to be strong where we currently are.