targetting 545-555 within the next 2 days
(then it'll correct, before breaking out)
targetting 750 - 800 around the 22nd
targetting 920+ end of May
This will only play out if
1) 485 support holds and we don't fall under to go bear
2) wave 3 doesn't just jump to 700+ altogether in one day
This is my scenario. I was getting a little worried so I looked at everything in a more macro-perspective which put my mind at ease. I'm going to be patient, any entry around 500 is a low-risk, high-reward play.
Tron is one of my long-term investments and I have a lot of faith in what they are about. This is why I've decided to pick tron as my first published analysis on TradingView. Tron has countless announcements and partnerships that seem to do little to nothing to the value in price. Why? Tron has yet to implement itself fully into our lives. It's got nothing to show for all these countless announcements. But tell me, what coin isn't doing this? The market is not trading "for the tech", they are going where the money goes...
but let me tell you, if you're overlooking Tron, you're going to be very disappointed when it rises, and you're not coming along for the ride.
Reasons I accumulate Tron:
1) their vision - they aspire to differentiate themselves from other coins, they want to break the mold; and I believe once Main-Net arrives (once they are on their own platform), their partnerships will finally mean something
2) potential return - Tron's ATH is 200 + % away from current price, albeit that ATH was unwarranted due to fomo and hype, there's still a lot of potential for this very very young project
Tron is currently a low-risk, high-reward play, let me tell you why:
1) Main-Net is in May - accumulation begins now, and the price will only rise from here until then. you may see fluctuation, but the lows will always be higher
2) Tron is currently in a inside a symmetrical triangle - a is a sign, especially when indicators are low
So with that in mind, aside from waves, Fibonacci, supports, and resistances; I also noticed a moment in the past which looks eerily similar in trend and also within the indicators
I'm comparing Pre-December Bitcoin bear market -> December's impulse -> correct and consolidate -> January's impulse to
Pre-March Bitcoin bear market -> March's impulse -> correct and consolidate -> next impulse?
So in December, there was also a inside a symmetrical triangle, and the resistance of that triangle was created by the ATH at the time,
I applied the same type of resistance for our current trend and it reveals breakout is in 2 days
The OBV shows me that Tron has respected the same bottom since January and that the highs are parabolic ( we've bottomed out in March, and new higher highs will be revealed )
Bitcoin bear markets are shown with red arrows and red lines
Significant spikes following a are shown with the green x's
My target OBV is shown by that (April 22nd)
The shows me that these two ranges in time are eerily alike
Bitcoin bear markets are shown with the red arrows
The 1st impulse is shown with the green arrows
The consolidation/correction period are shown with the yellow arrows
The shows a similar fat impulse to that of December's but also it reveals that the valleys of more recent times have been consistently getting wider
The valleys are shown with the red arrows
The rises are shown with the green lines
So with everything I've mentioned here along with the fact that
1) bitcoin's bear market resulted in people losing much more this time around, resulting in a lot of hesitation
2) a boatload of shitcoins to pick from, taking investors/traders away from Tron
... I've determined that the consolidating will take slightly longer than that of December's but I expect a nice reasonable rise to 750-800 by the 23rd of April. I'm quite sure this possibility will become a reality.
Good luck all