Still working on a weekly candle close above the rimline of this cup and handle and also the top trendline of an even bigger symmetrical triangle pattern seen here on the logarithmic weekly chart. The smaller and more realistic potential breakout target here is for the cup and handle pattern, the one that’s al the way up at $23 is the target for the symmetrical triangles breakout. Seems improbable that Tron could somehow reach a price as high as $23 when considering how sketchy Justin Sun has seemed over the last few years but that is indeed what the chart reveals. I think the smaller cup and handle breakout target is much more probable. For now though we still don’t even have a weekly candle close above the rimline yet, so before getting too excited about Tron s price action I’d need at least 1-2 weekly candle closes above that trendline…maybe even 3-4. Something to keep an eye on here. *not financial advice*
Comment:
Correction when I said we don’t have a weekly candle above the trendline I actually meant monthly candle. We just closed our 3rd consecutive weekly candle above the rimline here. However being such a long term time frame pattern I think we need at least 2 consecutive monthly candle closes above the rimline before we can start seeing a relatively high probability that the breakout from this pattern will be getting validated.
Comment:
Tron continues to climb the dotted breakout target line like a staircase.
