I never thought I'd find myself posting an idea chart for crypto but I have been following all these potential cup and handle patterns forming all across the crypto market closely all day. It seems as if Bitcoin Cash and Zclassic were the first ones to trigger....meanwhile other great alts have been slowly forming their respective handles to their cups all day including, Siacoin, Bitshares, Digibyte, Digital Note, Ripple, Steller, Cardano, Iota, Storm,BNB, and Ethereum just to name a few....most of those cups and handles have completed their handles and are now trying to rise up to break their necklines some still are finishing out their handles....but the first big one of these alts to break the rim/neckline of its cup and handle pattern appears to be none other than Tron! After zclassic,bitcoin gold, and bitcoin cash....Tron is next out of the gate to achieve cup launch which is a great sign for the odds of btc continuing its bull run...the more alts that start triggering their cup and handles the better the odds of us being able to break upward out of the current rising wedge BTC is stuck inside. Here on this chart I have drawn the breakout projection with the appropriate pricepoint on top...not a bad idea to take a ride on the troncycle to the top of the dotted line and then see if fomo or any other factors allow it to continue up any further. For me this will likely be a short term entry and not a long term hold. UYou choose your own path however because this is not meant to be taken as financial advice. I expect many more cup and handles in the alt market to trigger not much longer after tron so keep your eyes out on any cup and handles I may not have noticed and also keep your eyes on the ones I listed above. Thans for reading and good luck
its more fun if you just click play on the chart at the top though lol
Comment
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s3.amazonaws.com/tradingview/snapshots/4/4UTEpteC.png Tron seems to have formed Bulkowski's ascending broadening wedge...and threatening to break down from it right at the same level where it hit its projected price target...looks like a good time to exit.
Good job...
Do you see it doing 900 to 1000 with the current trend
YoJah
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Damn that was a damn good call. I like to see some more alt and crypto predictions would be awesome.
DrDovetail
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s3.amazonaws.com/tradingview/snapshots/4/4UTEpteC.png Tron Now seems to have formed Bulkowski's ascending broadening wedge...and threatening to break down from it right at the same level where it hit its projected price target...looks like a good time to exit.
o_rilwan
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And what is the new support with the current swing btw 812 to 785
DrDovetail
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@o_rilwan, wish I could tell you but I don't really follow tron too closely...was just gonna ride this pump and then get off...haven't tried to disect the support zones of tron...however I think bitcoin will hit the upper wall of the rising wedge and bounce down off it and its support zones for bitcoin will either be the 4hr tline(8ena), the bottom trendline of the rising wedge, or the fib lines in between them...however there's achance we already have enough bull momentum to get above and break up out of the rising wedge before a retracement...a retracement is definitely health and needed to continue long term uptrends though so it will most likely bounce back down....since tron has already completed hitting the projected breakout target ...I'm probably gonna short it but I may wait to see if decides to continue higher first....btu I will likely take profits and then buy back in on it on the next big dip to try it again.
o_rilwan
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@DrDovetail, thanks so much....would take profit at 800 790 then..and wait if it wud dip