Bitcoin is expected to touch the support at about 8k$ which if happens would cause TRON to drop to the support area indicated above by the white line. This trade is only active when BTC breaks below the 10k support.
Here is my most recent BTC analysis if you would like to get an idea:
~DCFreak
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Tron is just moving sideways. Once BTC goes through the correction wave, Tron will go down. Ignore the down trendline for now.
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Tron is stuck under the ichimoku cloud, everytime it attempets breaking through, it goes back down. Just the fact that the price is under the cloud, and that the cloud is red that is a bearish sign.
MACD is flat, RSI is flat: so these two are neither bearish nor bullish.
Are we coming to the end of the bearish cloud soon?
DCFreak
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@xyzj12, Hopefully by the end of this week.
We will have to wait to confirm that thou.
UnknownUnicorn1182588
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@DCFreak, do you recommend to set a stop loss and if, at which price?
davec83
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Nice analysis, its definitely a possibility, but I believe we still have 1 more wave up close to 2900 satoshis. We have contracting triangle and ABCD formations that are both bullish and we still have the final 5th wave that should also play out. This is what I think will happen if we can break that resistance line you drew.
@DCFreak, Don't agree with that statement. Look at XLM for example
davec83
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@davec83, having said that, I do agree with the fact that BTC is a major factor on what alts do short term. but not ALL of them do what BTC says. I'm bearish on a lot of coins :D
XLM doing what its supposed to:
STPAUL007
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Let see .... price of BTC rised to 13k on 20 Jan then went below 10k on jan 23 .... and TRX was flat ! MACD slopping, RSI in the middle. It can easily go up to 900 or in worst scenario fall to 450 - 500 but not to 200 satoshi.
DCFreak
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@KIRYLKAZLOU, Lets see....
On the 17th BTC went to 9170$ Tron went to 392.
If BTC goes to 8000 or 7500$ Tron will drop to the next support which is at 263ish.
DCFreak
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@KIRYLKAZLOU, Even the rise that TRX had on the 17th after the drop was because BTC went back up from 9000 to 11.5k
Are we coming to the end of the bearish cloud soon?