Good morning Friends, Traders, Everyone...
I hope everyone has enjoyed the price action as of late! I sure have! Many coins are seeing drastic moves in what many are calling the new bull market?!?
I don't know about all that, but let's look at one of the coins everybody knows has been prone to some 'high profile' attention.......TRX!
In our last analysis,we observed TRX retracing from it's last impulse wave, finally settling down in this Fib channel where it has began to show signs of bubbling - right on time.
What have we got going on here? Well, analyzing the last impulse wave, we see that Tron is attempting to fight its way back into the fib channel above. Now, TODAY, we enter the 200% Fib Time Zone. In the past, this has been cause for significant influence on price. I want to see a strong reaction from this time zone. Also, you see sloping downwards I've got a Fibonacci speed resistance fan indicating also here that this is a crucial moment as Tron begins to grind against the .618 line....
Finally, we have the Fibonacci Circles, which provide exciting insight into the effect of time on the chart! Tron has been forced to move up as it nears ever closer to the Fib Circle's 1.618 Golden Ratio
It will continue to squeeze on all timeframes until finally it can't take being pigeonholed into this many Fibs at the same time....
In conclusion, TRX is definitely due for a pop! I would watch this closely. The targets from our last analysis are reasonable, so I will reiterate them now. First take profit is 550 - 575, Target is 777.
TRX has the potential to go much higher.
(OF COURSE, THIS IS SUPPOSING THAT BIG MONEY DOESN'T COME AND STOMP/DUMP ON BITCOIN...)
Good Luck, Traders!
Previous Analysis:
I hope everyone has enjoyed the price action as of late! I sure have! Many coins are seeing drastic moves in what many are calling the new bull market?!?
I don't know about all that, but let's look at one of the coins everybody knows has been prone to some 'high profile' attention.......TRX!
In our last analysis,we observed TRX retracing from it's last impulse wave, finally settling down in this Fib channel where it has began to show signs of bubbling - right on time.
What have we got going on here? Well, analyzing the last impulse wave, we see that Tron is attempting to fight its way back into the fib channel above. Now, TODAY, we enter the 200% Fib Time Zone. In the past, this has been cause for significant influence on price. I want to see a strong reaction from this time zone. Also, you see sloping downwards I've got a Fibonacci speed resistance fan indicating also here that this is a crucial moment as Tron begins to grind against the .618 line....
Finally, we have the Fibonacci Circles, which provide exciting insight into the effect of time on the chart! Tron has been forced to move up as it nears ever closer to the Fib Circle's 1.618 Golden Ratio
It will continue to squeeze on all timeframes until finally it can't take being pigeonholed into this many Fibs at the same time....
In conclusion, TRX is definitely due for a pop! I would watch this closely. The targets from our last analysis are reasonable, so I will reiterate them now. First take profit is 550 - 575, Target is 777.
TRX has the potential to go much higher.
(OF COURSE, THIS IS SUPPOSING THAT BIG MONEY DOESN'T COME AND STOMP/DUMP ON BITCOIN...)
Good Luck, Traders!
Previous Analysis:
Comment:
I'm actually still pretty sure this analysis is going to play out. I maybe put the SL section too early, if bitcoin ends up breaking out this is definitely still going to happen. Just keep an eye on the breakout zone.
Comment:
Yeah, TRX looks like poo right now, but its just bleeding, no severe dumpage, so as I said before, continue to keep an eye on it. This is why patience is important. When this coin isn't moving for real it has a real habit of bleeding quite a bit.
I just want to reiterate that the RED zone above doesn't really mean 'go short' it just means I really don't want to see it go down there to remain on this particular trade plan.
I just want to reiterate that the RED zone above doesn't really mean 'go short' it just means I really don't want to see it go down there to remain on this particular trade plan.
Comment:
One of these next H12 candles needs to break out, lets see what you've got TRX....
These coins, like TRX/ADA and other big alts, will give us clues to the validity of this new BTC 'bull market'...
These coins, like TRX/ADA and other big alts, will give us clues to the validity of this new BTC 'bull market'...
Comment:
Doesn't look good, better stay out of this one :o
Comment:
Found support again on the speedfan fractal
