TRX/USD Potentially LONG - Decentralized Web 4.0
Decentralized Web 4.0
We are finally coming to a consolidation period after our a heavy correctional period. The current trend still suggests TRX too be bearish (falling wedge formation). However, if we break out of this falling wedge with a solid green candle, that suggests TRX will see a reversal and ill be placing my buy orders appropriately. Supporting this is the possibility of Wave 5 in our Elliot Wave Theory, as well as Stoch RSI nearing its bottom on the daily chart.
Fib Targets:
(1): 0.00000944
(2): 0.00001159
(3): 0.00001375
(4): 0.00001681
(5): 0.00002072
(6): 0.00003199
We are finally coming to a consolidation period after our a heavy correctional period. The current trend still suggests TRX too be bearish (falling wedge formation). However, if we break out of this falling wedge with a solid green candle, that suggests TRX will see a reversal and ill be placing my buy orders appropriately. Supporting this is the possibility of Wave 5 in our Elliot Wave Theory, as well as Stoch RSI nearing its bottom on the daily chart.
Fib Targets:
(1): 0.00000944
(2): 0.00001159
(3): 0.00001375
(4): 0.00001681
(5): 0.00002072
(6): 0.00003199
Trade active:
It's likely we see a retracement to 23.6% fib level (0.00000678 sats), accumulate, and follow by a bounce.
However, the probability of seeing a full retracement to 0.00% fib level is becoming greater as our current trend continues.