1. At the time of this writing, TRX bounces off the trend support line (green line), if breaks we will see further decline. 2. RSI also holds on long support around 27 since April. 3. MACD shows sign of crossing soon.
Nice, man. I have a similar price point in mind, albeit some 20 days back (explanation of events included)
Agreed with @aBitLong, the impulses are a bit invalidated. Wave 5 looks like its as long (or possibly longer than 3), which would invalidate it. If you shift wave 4 to the 770 region (i.e. the one that just happened), it will be far more valid from 4 to 5. Since 1 to 2 was quite narrow, 4 to 5 would need to be far wider.
yashiro
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@NickPadovani, I think we just finished correcting and ready for the final impulse.
Wave 3 doesn't have to be the longest, but cannot be the shortest.
@yashiro, sorry just seen this - wave 4 shouldnt enter price action of wave 1 - but actually looking at chart it could be re-drawn with out so much retrace
suchpumpwow
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do you think we are in ABC correction? B on our way back up around 900sats and then C back down around? 500-600 sats?
yashiro
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@bjonr, that's a possibility. But as of now, the trend line support still stands (around 760-770).
Nice, man. I have a similar price point in mind, albeit some 20 days back (explanation of events included)
Agreed with @aBitLong, the impulses are a bit invalidated. Wave 5 looks like its as long (or possibly longer than 3), which would invalidate it. If you shift wave 4 to the 770 region (i.e. the one that just happened), it will be far more valid from 4 to 5. Since 1 to 2 was quite narrow, 4 to 5 would need to be far wider.