I've said on my show a hundred times... Tron will shock the market. Against USD Tron has been stellar. Bitcoin not so much. Some of you know in the last several weeks, TRX had it's breakout of it's years-long downtrend. The downtrend line is labeled yellow. This came after a fake-out back in September 2020.
Elliot wave analysis: The first 5 sub-wave structure...
That B Wave extended a little further then anticipated but not by much. We got a perfect touch on the pitch fork median line. Still expecting a pullback shortly so nothing has changed with my plan. I exited about 4 days ago and will re-enter near my target.
Tron still doing its thing hanging around on the daily waiting for a bearish pullback in my opinion. Volume is low and declining and there is heavy resistance at at 0.0285. Is my count right? maybe... maybe not! but i'm out till a dip or volume picks up based on my chart.
This biggest and most import thing is....
I updated my analysis with more waves and more fibs! TRX 2.08% found support on 0.236 fib level and the last downtrend got out of the fib spiral.
Let me know what you think.
As predicted before, pretty much we are in correction wave 4 of wave 5 super circle.
Targets stays the same as before, marked on a chart. Should be cautious when approaching price level of 1020, check for divergence on RSI and MACD, as it most probably will be the end of the last Wave 5.
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It is currently trying to break out of the falling wedge after hitting the 500 FIB level.
IF we have a confirmed break out over the 55 EMA on the 4 hour chart, I can see TRON rising towards our target of 1150
With the upcoming release of mainnet on the 31st, TRON is only going to get stronger....
Interim targets labelled on chart. With BITCOIN's recent performance I am more inclined to aim for Target 1 short term.
RSI is oversold ish on the 4 hour chart.
Let me know what you think!