Get started
3X Short TRX Token3X Short TRX Token3X Short TRX Token
DelistedDelistedDelisted

3X Short TRX Token

No trades
See on Supercharts
Overview News
Ideas
Minds Markets

TRXBEARUSD trade ideas

TRX Break Out Failed, Possibly Heading Under 3 cents in 2024One of the most important things in trading is forego your own wants and want what the market wants. When Glenn Neely and I first came up with the x-wave idea for BTC, I did not want to believe it was true and I continued to WANT my diametric pattern to be the end of the bear market, as it had been for the last few months. As time has gone on it gets harder to deny that what we have formed over the last few months is an x-wave, on both BTC and TRX and the vast majority of crypto assets, and that we are only a little past half way finished with this bear market that began in 2021. The market is probably going to go to max pain from here. That means another 1-2 years of bear market and the global crypto market cap being slashed in half over that time. This is based almost entirely on the wave forecast, which indicates the bull market over the last few months is an x-wave. The reason why this is now being considered as an x-wave instead of the beginning of a new bull run is because we did not see the required confirmatory price action following the bottom in January. We should have seen moves much bigger and faster than wave-b, what we had, especially on TRX, was a move which is far smaller and far slower than wave-b. This is not what the beginning of a new bull market looks like. In particular on TRX it looks like it has formed a contracting triangle after wave-g, which is very weak and not at all how a bull market should begin, but it does form into a very nice looking x-wave. This is likely to be followed by another diametric which could take just as long as the previous one, and will probably be slightly shorter, taking TRX to under 3 cents. After this happens probably sometime in 2024 we will begin to see a move bringing TRX above 1 USD and probably much higher than that. Momentum is also bearish on multiple timeframes including the weekly and the monthly. Neely River Theory has also not given any buy signals on TRX yet and remains in bearish territory. On top of that, the regulatory issues in the US, and the lack of new money coming from other parts of the world like China is a major headwind for the whole market. A Wells Notice received by Coinbase at the same time the SEC sued Justin Sun implies that Coinbase will soon be charged with operating an unlicensed securities exchange, and may have to pause and seriously wind down operations until the court case is finished. The exact timing of when this lawsuit will be filed is not clear, but one thing is almost certain is they will be sued eventually after receiving a well's notice, and the comments made by Brian Armstrong indicate they are coming after their core spot business model. This is being considered as a possible regulatory trigger for this protracted bear market, however there are many other possible events which could cause negative headwinds especially from a regulatory standpoint, like Ripple losing their lawsuit or seeing it drag on for another year or two, and further ugly developments in Justin Sun's suit or other developers being sued. The reason this is significant is because it will seriously hinder new money coming in from the US, and short of mainland China opening retail crypto exchanges it's hard to imagine anyway that new money is going to be coming into the market at the same pace as 2017 or 2013. The lawsuits against Ripple and Justin Sun are also very significant because they hinder big developer's ability to effectively market their cryptos to US-based persons, or even through social media platforms like Twitter which may have US citizens browsing on there, opening developers up to liability if they advertise on these platforms or within the US, again severely reducing the flow of new money into the market, which is required for any real bull market to emerge. Whatever the eventual trigger is for this bear market, most important to this analysis is the Wave theory which indicates, based on the rule of reverse logic, that we are only near the middle of this bear market and this could drag on until next year. As much as I didn't want to believe this at first and I wanted to assume even if we do get a wave down it will be quick, that is most likely not what the market wants. Based on the best wave analysis possible, all signs point to this going to max pain, which is a very deep, protracted bear market that could drag on well into next year. The attitudes of many traders I have seen, especially to bearish ideas, are an echo of the peak in November 2021 which I called almost perfectly. The regulatory headwinds are also an echo of the SEC's DeFi crackdown which began in late 2021. And the wave theory and technical indicators here are clear and convincing, just like in 2021. Over leveraged crypto firms like Microstrategy and some BTC miners that are at risk of collapse during a protracted bear market are an echo of Luna, 3AC, and FTX. There may still be some small upside left in wave-x, but short of a massive breakout which would need to go almost completely vertical and send us flying past the velocity of wave-b (which is very unlikely), then we are probably going to form a top here very soon and begin a major decent towards max pain, finally squeezing out these over leveraged crypto firms and creating a temporary fire sale of cryptos.
KRAKEN:TRXUSDShort
by Intuit
2
Tron: Trend is your friendA lot of people getting bullish here but it's important to remember that Tron was and still is in a bearish market structure. Consistent lower highs and the current push still has the potential to be the next lower high. Especially with the current state of the economy, the FED has no intentions of slowing down interest rates. Making it harder to attract money into high-risk plays like altcoins. It is much more likely for the bearish trend to continue and for new lows to form. Best case wait for a strong market structure change and acceptance at higher prices or wait for the market to head lower down to accumulate.
BINANCE:TRXUSDShort
by sachu_blessyou
1
TRONUSD: Logscale AB=CD Looking to Play Out For a 2nd TimeThis is a Cup with Handle and an AB=CD at the same time that I posted before, but it was on the FTX chart and that one actually ended up playing out perfectly but on other exchanges TRXUSD just kinda sat here but now it's breaking out on a Monthly timeframe and it's starting to look like we will be getting the same performance we got on FTX on a more Global level so I'm just reposting it on a chart that's still alive since the FTX chart is gone. The MACD on the Monthly should also be going into positive territory very soon. Here is the link to the original setup: On another note, TRX recently reached the TP target of a more recent daily trend line trade, one could try to hold on for the bigger target presented on the monthly chart, or they could take some profits now given how much they are up. Here's a link to that setup:
KRAKEN:TRXUSDLong
by RizeSenpai
trxusd daily accumulation buy low tp bulls 50% gains🔸Hello traders, today let's review daily price chart for TRXUSD . strong gains recently off the range lows, however currently price getting overextended and trading near range highs, so overall risk/reward is shifting in bears favor. expecting pullback in this market in May/June 2023. 🔸Active trading range is defined by range lows at 0.055 cents and range highs at 0.07 cents. Premium prices at 0.05 cents and 0.075 cents overhead. Limited upside beyond prem prices. Trading in weel defined range for almost 12 months now, strong re-accumulation. 🔸Recommended strategy bulls: expecting pullback/retest of range lows later in May/June. Best reload zone for position traders on buy side near 0.055 cents. Short-term correction so bulls should wait on sidelines and be ready to reload lower near 0.05. final TP bulls +50% gains. 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
BINANCE:TRXUSDLong
by ProjectSyndicate
47
TRX Could Drop to 3.3 cents Following Failed Breakout (EW)Based on the severity of this pull back It seems like the breakout for TRX has failed, and based on the macro environment the probabilities are mounting we may briefly see new lows this year before pushing towards all time highs. This seems to be coinciding with a crash in the US banking system, which will eventually lead to a fast response by the Fed to turn the printers back on to save the banks and prop up asset prices. At first TRX could get a quick drop to 3.3 cents as asset prices depress almost across the board. Following the inevitable Fed intervention, TRX and most cryptos should push towards new all time highs. At a minimum TRX should go to over 60 cents in the following year as the money printers get turned back on again. The very recent collapse of multiple banks in the US could lead to system wide contagion in the US banking system that will only be stopped by massive intervention and money printing by the Fed. A systemic bank run could lead to a dollar liquidity crisis and temporary demand spike for dollars as depositors can no longer get their dollars out of banks and will need to sell off other assets to pay their bills, this selling will continue up until the central bank is able to effectively deal with the situation and extinguish the fire by throwing freshly printed money on it. The Fed typically keeps tightening until they 'break something,' and things are definitely starting to break now.
KRAKEN:TRXUSDShort
by Intuit
15
TRX 4 Year Triangle Ending, Going to $10+ Next YearTRX appears to be ending a triangle which began at the beginning of it's price history with the lowest point being wave-A of the triangle, and wave-E reaching its conclusion now based on the time target of E=(C+D)/2, and a price target of of E=C(0.382). The internal structure of wave-E has formed into a perfect triangle with wave-e of E now reaching its time target based on the monthly and weekly charts. A triangle seems to fit the best here because wave-D=(B+C)/2 (time), and wave-E=C+D (time). Wave-B was retraced more than 61% by wave-C, wave-E relates to wave-C by 38.2% (price), and wave-D relates to wave-B by 61.8% (price). The structure of every wave is corrective. The channeling of both the larger triangle and the smaller triangle is ideal, with wave-E giving false breakdowns on both triangles. All other counts I've seen seem to have significant improbabilities, with this count seeming to have the best time, price, structure, channeling, and complexity relationships of all counts I have considered so far. The implications of this are that we should see a move that is bigger and faster than wave-B, which would take TRX to well over $10 next year. The fundamental trigger for such a large move would probably be related to TRX burns accelerating at the same time that Chinese money begins to enter the market through Hong Kong legalizing crypto trading and ETFs and pushing to become a global crypto-financial hub. TRX is in the best market position to benefit from new Chinese money entering the market next year, and the extremely rapid rate of TRX burns increasing with more USDD demand and network activity creates an expected future supply that is a tiny fraction of what it is today.
KRAKEN:TRXUSDLong
by Intuit
5