Tron is seeing some major signs of a correction to the upside shortly.
We see that Tron broke out of the falling wedge with bullish volume. Now it is consolidating ready for the next moon mission.
Note that the arrors are NOT time scale based analysis - simply just showing the possible direction.
RED LINES - TAKE PROFIT.
GREEN LINE, BUY ON 0.65 FIB PULLBACK...
So we have hit the 618 FIB level for TRON... we need a breakout now over the blue line otherwise we will see further correction down to the 786 level
However with the price of Bitcoin set to hit 6k... I think fruther correction is coming for TRON
As always.. do your own research!
This is an alternative scenario that could be playing out on the TRON chart. This coin might not retrace as expected due to the fact not many people will be selling until the release of the "test net" on 31st March.
Please have a look at both charts and decide for yourself.
Either way we still hit my target of 650
Wave 2 only retraced to 32% meaning wave 4 will retrace more than this. I am looking at 50/61% meaning TRON could drop below 500 sats before its push up for wave 5
I have wave 5 set around then 640 mark and if you want to be very bullish then it could go as high as 690 just like wave 3 did smashing my target of 540 by hitting 600+.
Let me know what you guys...
Tron keeps trying to break 445 sats and keeps getting rejected. As seen by my chart we are approaching a crucial time for TRON as we near the APEX of an ascending support line and a resistance line.
I am still LONG on TRON!