TRON's Wave 1 & 2 of current cycle over with. What Next?

2024年8月30日

I believe that this cycle's wave 1 and its correction are done. Wave 2 being a shallow correction at Fib 0.236 gives us some clues as to what to expect next. Here's why I believe Wave 1 and its corrective wave 2 are past us and how wave 3 has already begun.

1. RSI bearish divergence (usually happens between the tops of wave 3 & 5 price action)
   
2. Correction to a significant fib level 0.236
   
3. RSI's significant correction and confluence at Fib .5 and RSI level 50.
   

And yes you can definitely apply Elliott Wave theory to the RSI signal, which I rarely see being applied here on TV. It helps confirm not-so-obvious EW charts.

So what do I expect to happen next? Either upcoming wave 3 or wave 5 will extend reasonably. I'm putting my money on wave 3 but won't rule out 5. The recent meme mania on TRON is shaping up quite nicely and could be the precusor of the extension and explosive price growth.

2024年9月2日

註釋

Elliott Wave is not a predictive tool. So one should always consider alternative counts when it comes to forecasting