Tron (TRX) Looking Good for a Breakout! 300% Midterm Potential!

Feeling pretty bullish on Tron BINANCE:TRXBTC right now. First off, as you can see from the super-bolded trend lines on the chart, we're coming to the apex of a massive daily falling wedge . This is supported by the RSI , which shows the same wedge with a false breakout on the 19th creating a new resistance that may send us down one more time. RSI has also made a double bottom at the oversold 20 line, an area never reached when it bottomed at 309 sats back in April. The MACD has also shown some bullish divergence , failing to reach a lower low as price did (although we may still see one more leg down, more on that later.)

Looking at the Gann Box on the chart, we can get a time estimate for the breakout on July 10th. Now, it is entirely possible that it makes its move before or after this date, but looking at the accuracy of the 0.25, 0.382, and 0.5 time fibs on the chart, I'm led to believe the 0.618 is when we will see it makes its move.

On to the OBs (Order Blocks) you see on the chart. I'd highly recommend learning about them if you are not familiar, since they can allow for some extremely high accuracy trades with very close stop losses, however I'll give a simple explanation for you here. An Order Block is formed when a single candle moves against the trend before a strong move in one direction (i.e. a smaller up candle before a big move down). These zones end up holding a lot of stop losses and liquidation points, so markets will often move into them to find liquidity before reversing strongly in the other direction. When a candle closes below an OB (this candle is called a breaker), price will often continue strongly in that direction.
As you can see on the chart, we are currently sitting within a 2D Bullish OB and below a 1D Bearish OB. A close above 635 sats (top of candle body) will likely lead to a move up to 700 sats , with the next target above that OB at 750 and 800 sats . On the other side, if we fail this OB (as I think we may) and close below 570, we will likely have a move down to 530, where we will bounce from that OB and out of the falling wedge .

Now, the trade:

First possible entrance would be here, at 585 sats , with a stop loss below the 2D OB at 570. I'd give this a 40% chance of being profitable, mostly dependent on if BTC can break 6800 or will head back down to 6400 to finish the inverse HnS pattern.
Second entrance is above the 1D OB, which will almost certainly be profitable mid-term, although you will miss the first move. This is just a safer version of first entry.
My third, and IMO optimal entry, is between 510-528 sats , with a stop loss below 510. This is the best r/r, so hopefully it makes that move down with btc so we can get in low.

Targets for the trade would be 570, 609, 650, 700, 750, 835, 891, 1000, and 1050.

Remember, this is only my opinion and what I see on the charts. I will be getting into this trade, but if you do that is your decision and I am not responsible if it is not profitable. For educational purposes only.
Trade active
Comment: Looking at the 4 hour chart above, we can see that TRX bounced nicely right above the buy zone at 532, and is currently coming back down with some bullish divergence. MACD continues to make higher lows despite price making lower lows, showing weakening bear pressure and indicating a reversal of trend. Williams Market Bottom Finder has fired several times, making it likely that we bottom here, likely between 528-534. As BTC continues to look more bullish (I'll explain my thoughts on it in a separate idea soon), Tron should have a good chance to bounce out of here into its next bull run.
Comment: Just posted my analysis on BTC and why it could be headed up to test 7200! If this happens TRX is going to mooooon :D


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