#Tron update- breakout of the Symm triangle #TRXBTC targets
Tron after 10 days of trading below the 20DMA is finally trying to break above.
Confirmation of the break will be when we get two 1D candles closing above that level.
Mid-long term Primary wave 5 target for tron is 1300-1350 sats, if we get a break above the primary wave 3 high i.e 1083.
This area lies around a confluence of resistances
Including the 38.2fib of the impulsive move to 2046 sats, 61.8fib of the drop from 2046-315 sats & 1300 level being a region of previous bounce.
From the 4H chart we can see that Tron after bouncing off the 50fib retracement of Primary wave 3, consolidated in a symmetrical triangle & then broke out of the triangle -
Initiating a new minor impulsive sequence- To mark the beginning of the Primary wave 5.
Now lets analyse the minor sequence that we are seeing right now:
Minor 1 made a swing high of 899 sats
Minor 2 was a 50fib retracement of Minor 1
Now currently we are in the Minor 3, which has broken above the Minor 1 high.
Taking MInor 3 as atleast 1:1 fib extension of MInor 1
We get Target for Minor 3: 930-940 sats
Then we can expect a bullish Minor 4 retrace till 910-15 region.
Finally the Minor 5 also taken as a 1:1 fib extension has a Target of 980-1020 region which lies around the 50fib of jan impulsive move & 38.2fib of the subsequent drop.
https://www.tradingview.com/chart/2jHyamBl/#
Confirmation of the break will be when we get two 1D candles closing above that level.
Mid-long term Primary wave 5 target for tron is 1300-1350 sats, if we get a break above the primary wave 3 high i.e 1083.
This area lies around a confluence of resistances
Including the 38.2fib of the impulsive move to 2046 sats, 61.8fib of the drop from 2046-315 sats & 1300 level being a region of previous bounce.
Initiating a new minor impulsive sequence- To mark the beginning of the Primary wave 5.
Now lets analyse the minor sequence that we are seeing right now:
Minor 1 made a swing high of 899 sats
Minor 2 was a 50fib retracement of Minor 1
Now currently we are in the Minor 3, which has broken above the Minor 1 high.
Taking MInor 3 as atleast 1:1 fib extension of MInor 1
We get Target for Minor 3: 930-940 sats
Then we can expect a bullish Minor 4 retrace till 910-15 region.
Finally the Minor 5 also taken as a 1:1 fib extension has a Target of 980-1020 region which lies around the 50fib of jan impulsive move & 38.2fib of the subsequent drop.
https://www.tradingview.com/chart/2jHyamBl/#
評論:
#tron #trx Minor 3 Target:930-940 sats acquired. $trx +2.38% up
評論:
#tron #TRX +7.3% up, Conservative target for minor 3 taking - at least a 1:1 extension met & $trx is right now at the 1.618fib extension of Minor 1 at 975sats, which is the .382fib resistance as well. Retracement till 925 sats can be expected now. #Crypto #cryptocurrency
評論:
As expected retracement till the 50fib(925 sats) after that Wave 3 -that was a 1.618 ext of Wave 1. Truncated Wave 5 Target: 970-975.
評論:
#tron has completed 5 wave minor sequence, currently consolidating, #TRX can pick up again if it finds support around 925sats region.
評論:
This is what we have seen till now:
