Magic's Legend Never Fails! TRON! (TRX/BTC)

Hi friends! I'd like to welcome you to this update analysis on TRON! This one is truly epic! If you recall from my last post, titled "Bears Gnaw Tron's Bones, In Slow — Agonizing Ingestion" I told you this...

"If you'll notice, there is actually a pattern of fails and holds. We can see that each time the first "Fail" or "Hold" is posted, at least two more tests follow. If this pattern is to repeat itself, we can assume that TRX/BTC may test the bottom of the 50 EMA , a few more times, in the near future. We have one fail posted right now, so perhaps a few more tests occur, before we get a break to the upside, or a break to the downside."

Looking at the chart, we can see that three more fails have followed, after the first failure to get back above the 50 EMA (in orange) — exactly what we were looking for. So, where do we go from here? TRX/BTC appears to be heading lower, but it could remain trapped between the 50 EMA , and the 200 EMA (in purple.) To be certain, I would look for a break of either moving average, to determine the forward path of trading. The MACD is flattening out, but bearish volume is starting to pick up. Also, continuation selling is beginning to reemerge in the crypto space, which could put pressure on TRX/BTC . A break below the 200 EMA , should produce a fall down to about the 380 level. Below there, TRX/BTC could fall to the bottom of the falling parallel channel . Keep an eye on those moving averages, and stay safe traders!

This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-MPC loves you-

@MagicPoopCannon please we all appriciate your ideas. Thanks.
Pls Update:)
My TRX idea. We shall see, I think it is a good time to buy. The early break out really worked out nicely to accumulate.
Noob here - first of all, thanks for this analysis. I'm very into Tron and was curious to know where it's headed. Especially bc, like an amateur, I lost alot of my position day trading and missed the surge to 2000k sats and then again during this market correction. Simply hoping now to recover and buy back super low after putting my coin into USDT until the correction reaches a bottom.

This all said, you mentioned it could hit down to 380 and then that if it breaks that, it could fall to the bottom of the parallel channel - do you mind illuminating this novice wizard as to what the parallel channel is in this context? Does this mean we could see TRX at 188 on Jan 24 (under this scenario)?

+1 回覆
Great work! I have a quick question - do you use Tether, and do you trust it? Thanks - it means a lot to get your input.

Investor123 singhdaking
@singhdaking, @MagicPoopCannon I have the same question. Tether is very convenient but a lot of investor friends of mine don't trust it. What's your take?
Anyone who could explain EMA in simpler terms?
+5 回覆
Acel deepmaniyar
@deepmaniyar, moving average that takes more into account the recent prices. A normal MA uses all prices equally.
+2 回覆
Why do the bears have so much market control right now? It looks like they're killing this coin LOL
+1 回覆
JustinGarcia OrunmilaDjehuti
@OrunmilaDjehuti, well its a sh!tcoin without an actual product and overvalued with a 10 year long term plan. why should it be worth billions :D
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