Potential Double Top On Mainnet [TRON/BTC]
Fundamentals:
Expecting selloff on Mainnet launch (Month's end)
Time to start taking profits on long positions.
Resistance / Exit points for Long:
1050-1150 Sats -
Bitcoin being in a bearish trend has potentially decreased expected bull momentum for alts, and thus for TRON.
This leads me to believe that a double top is the most likely exit point for long positions.
Algorithm target alignment:
Algos will be selling off at the same range as double top because -
Expecting selloff on Mainnet launch (Month's end)
Time to start taking profits on long positions.
Resistance / Exit points for Long:
1050-1150 Sats -
Bitcoin being in a bearish trend has potentially decreased expected bull momentum for alts, and thus for TRON.
This leads me to believe that a double top is the most likely exit point for long positions.
Algorithm target alignment:
Algos will be selling off at the same range as double top because -
- 100% target length of wave 1 on the higher degree count (Super common for truncated 5s)
- 50% target length of wave 1-3 on the higher degree count
- 161.8% target length of wave 1 on lower degree count (confirmative)
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