TRON Nearing End of 2 Year Correction, Could Head to 10+ (EW)
Wave Theory: Based on the monthly count, it looks like we are approaching the end of wave-E, we're still a few weeks early, but because we are getting the naked long signal on River Theory and multiple other indicators, there is a good chance that we are at the bottom of wave-E and will probably just chop around here until around October 18th. However, if we do make a new low under 0.014 I'd suspect that we will keep heading lower until the middle of October.
Neely River Theory:
This is a new tool I am experimenting with which is giving a go naked long signal on TRXUSD. Because this tool is generally very accurate, I am assuming that we are also at the bottom of Wave-E, though it's still possible that wave-E could be larger if we break the low at 0.014, or that we may chop around here for a few weeks before getting a larger move to the upside.
Harmonic Analysis:
There is a large daily cypher and gartley that have formed on TRXUSDt which are signaling a buy here.
Divergences: There is a weekly bullish divergent bar, as well as bullish momentum and acceleration divergences throughout multiple timeframes, all signaling to buy here.
Fundamentals: By the end of this year, we will likely see a BTC ETF (Oct 18th), A potential no-deal brexit (Oct 19th), The Tron-Warren Buffet lunch which will attract a lot of retail and institutional traders, Coinbase/Binance US/Baakt TRX listings, uTorrent/Opera TRX wallet integration (200-300M monthly active users), BTT improvements, WINk marketing/improvements, ZK-SNARKs, New Partnership announcements (Tencent, Alibaba, Baidu, etc.), TRX ETF announcement, Chinese central bank stable coin being launched which will allow chinese citizens to enter the crypto markets. Also in general, TRON has the best tech out of all the top cryptos. It's extremely fast, low fees, scalable, easy to develop on, more decentralized than BTC, has the most dapp volume and users, has the most game changing dapps like BTT and WINk, good voting/staking rewards, and has some of the best marketing in crypto, among many other things which I've touched on in previous posts.
I suspect that when this 2 year correction does finally end, we should get a very powerful vertical move up, like what happened to many severely undervalued cryptos in 2017. However, because TRX was able to increase faster than virtually every other top crypto, increasing 20,000% in just one month, and because it's the best tech out right now and is extremely undervalued, a vertical move to 1 USD will likely be just the beginning of the climb towards double digits over the next year.
Neely River Theory:
Harmonic Analysis:
Divergences: There is a weekly bullish divergent bar, as well as bullish momentum and acceleration divergences throughout multiple timeframes, all signaling to buy here.
Fundamentals: By the end of this year, we will likely see a BTC ETF (Oct 18th), A potential no-deal brexit (Oct 19th), The Tron-Warren Buffet lunch which will attract a lot of retail and institutional traders, Coinbase/Binance US/Baakt TRX listings, uTorrent/Opera TRX wallet integration (200-300M monthly active users), BTT improvements, WINk marketing/improvements, ZK-SNARKs, New Partnership announcements (Tencent, Alibaba, Baidu, etc.), TRX ETF announcement, Chinese central bank stable coin being launched which will allow chinese citizens to enter the crypto markets. Also in general, TRON has the best tech out of all the top cryptos. It's extremely fast, low fees, scalable, easy to develop on, more decentralized than BTC, has the most dapp volume and users, has the most game changing dapps like BTT and WINk, good voting/staking rewards, and has some of the best marketing in crypto, among many other things which I've touched on in previous posts.
I suspect that when this 2 year correction does finally end, we should get a very powerful vertical move up, like what happened to many severely undervalued cryptos in 2017. However, because TRX was able to increase faster than virtually every other top crypto, increasing 20,000% in just one month, and because it's the best tech out right now and is extremely undervalued, a vertical move to 1 USD will likely be just the beginning of the climb towards double digits over the next year.
Comment:
As expected, price action has been very choppy here and hasn't given a solid bullish confirmation signal. Now River theory has gone to a more neutral state, and we will probably chop around for a while longer in this range. If we break the low at 0.014 we could see significantly lower prices as said before.
Comment:
Moved to this chart:
