Here is a rough drawing of the potential possibilities with Tron. I have been watching this over the last several weeks, especially with the BTT airdrop announcement for all TRX holders and the Binance presale. We had a nice run after the NiTRON summit but can't seem to stay above .027 very long. These are all rough drawings but it gives you an idea of what I am looking at and watching.
As you can see we started forming the left shoulder around Dec 20th, 2018 and have completed the right shoulder very recently. With that being said, if this breaks BELOW the neckline (black dotted line) there is the downside potential to retrace back to the 0.011 range. Tron did get a lot of support around 0.018 prior to the BTT announcement and niTRON summit so hopefully if this does fall back, the bulls can defend it. Fib downside targets are 0.020, 0.016, and 0.010. These ranges (dotted yellow line) all fall in line if this does break to the downside below the neck line (black dotted line).
On the flip side if this breaks above the neck line, most tech analysis is pointing to the upside around 3 and a half cents which is also around the next target on the fib scale. Fib upside targets are 0.033, 0.037, and 0.043
On the 4hr chart on Binance the candles are mostly forming at the top of the Boll band channel with a few dips to the center of the channel but, there seems to be some uncertainty based on volume and candle/wick sizes. There is a heavy potential for the bears to try and take control so trade with caution on the long side. I personally like to buy in when the candles are riding the lower channel of the Boll band. Just keep in mind there is great potential for a deep fall to the lower band of the channel which would also confirm what we are seeing if we fall below the neckline of the H&S pattern (dotted black line).
I am by NO means a professional analyzer, and am not recommending to trade one way vs. the other. However I do find it very interesting and enjoy sharing my trading thoughts and ideas.
PS, this is my first out load published idea on T-View. Hit like for any thanks or support! Enjoy and good luck trading everyone!
As you can see we started forming the left shoulder around Dec 20th, 2018 and have completed the right shoulder very recently. With that being said, if this breaks BELOW the neckline (black dotted line) there is the downside potential to retrace back to the 0.011 range. Tron did get a lot of support around 0.018 prior to the BTT announcement and niTRON summit so hopefully if this does fall back, the bulls can defend it. Fib downside targets are 0.020, 0.016, and 0.010. These ranges (dotted yellow line) all fall in line if this does break to the downside below the neck line (black dotted line).
On the flip side if this breaks above the neck line, most tech analysis is pointing to the upside around 3 and a half cents which is also around the next target on the fib scale. Fib upside targets are 0.033, 0.037, and 0.043
On the 4hr chart on Binance the candles are mostly forming at the top of the Boll band channel with a few dips to the center of the channel but, there seems to be some uncertainty based on volume and candle/wick sizes. There is a heavy potential for the bears to try and take control so trade with caution on the long side. I personally like to buy in when the candles are riding the lower channel of the Boll band. Just keep in mind there is great potential for a deep fall to the lower band of the channel which would also confirm what we are seeing if we fall below the neckline of the H&S pattern (dotted black line).
I am by NO means a professional analyzer, and am not recommending to trade one way vs. the other. However I do find it very interesting and enjoy sharing my trading thoughts and ideas.
PS, this is my first out load published idea on T-View. Hit like for any thanks or support! Enjoy and good luck trading everyone!
