Hi guys, once again prefacing this post with the fact that I am not an expert, only sharing my ideas and am open to criticism or any advice anyone is willing to give. Now lets get into it! On the 4 hour chart for TRX/BTC I have counted a 12345 Elliott wave and an ABC Correction. Tron is looking very bullish at the moment just completing the C wave of the correction, breaking out of the bull flag while simultaneously hitting off the bottom channel. There is also a bullish MACD cross below 0 signaling bullish as well as the rsi level is bouncing off the rsi bottom support and is once again heading up. The low amount of volume is a confirmation that the flag is completed and I see a spike in volume sometime soon. The price has remained above the 200 EMA for the past 3 weeks, only piercing it twice at the bottom of the correction. Thanks for viewing my analysis on TRX/BTC I value feedback greatly so feel free to let me know what you think and any of your personal ideas!
Comment:
A rising wedge has formed at the bottom of wave c out of the bull flag. It is rising with the bottom channel and a breakthrough should occur sometime soon.