I see this going to 474 with a possible sell down to 440 at lowest (.25 ma on total trend) before trying to find good support.
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 volume 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.
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 volume 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.
Comment:
None of this changes anything that i see or believe. It still looks bad and still seems like no reason to buy in. A quick influx of money once btc pumps a small amount means nothing. In other words, I am not worried over a random event. The area of 543 to ~568 is considered free space or not much bear pressure until that top is hit. I still want to see tron go above 622 and only then would I buy in at 622 on the sell down.
If not for this BTC event, there is a high possibility that the price would still be under 543.
If not for this BTC event, there is a high possibility that the price would still be under 543.
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)