Looking at the TRONBTC Chart, I can see there is a diverging/expanding triangle, with an upward trend.
Support line is trending upward.
Looks like a clear Elliott impulse wave 1-5, and corrective ABC happened - traces perfectly the fib from points 5-a
It would appear we are in the middle of a second impulse wave i-v, and are in the ii to iii wave.
ADX shows there is a trend at 30, not super strong, but not weak either. the DI favors the bulls.
RSI is also in the middle territory, but appears to be moving upward. Suggesting price has further upward movement left.
MACD Histogram has just crossed over into the 0.
The fast, is now above the slow, and is also above the 0.
Both suggest positive price movement.
Finally, the Stochastic RSI is creeping up toward the 80/overbought zone.
There is still room for it to move up, and it has historically not changed direction until it hits 95.
Support line is trending upward.
Looks like a clear Elliott impulse wave 1-5, and corrective ABC happened - traces perfectly the fib from points 5-a
It would appear we are in the middle of a second impulse wave i-v, and are in the ii to iii wave.
ADX shows there is a trend at 30, not super strong, but not weak either. the DI favors the bulls.
RSI is also in the middle territory, but appears to be moving upward. Suggesting price has further upward movement left.
MACD Histogram has just crossed over into the 0.
The fast, is now above the slow, and is also above the 0.
Both suggest positive price movement.
Finally, the Stochastic RSI is creeping up toward the 80/overbought zone.
There is still room for it to move up, and it has historically not changed direction until it hits 95.
I still think it's possible to hit 700 zone on the next wave upward.
Full disclosure, I don't own TRX and never entered this trade - this one is just a practice for me :)