". There is a possibility of temporary retracement to suggested support line (100).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. TRXBTC is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
Tron has been the best performer in the market recently and has seen surge(100%+) for the past 40 days with news of Bittorrent company.However it needs to cool off(drop) before continuing the bullish momentum.
It will undergo a healthy correction after the recent surge and needs to hold the 488-530 satoshi level before moving up.If it manages to...
Tron/Bitcoin is in a range bound and the beginning of uptrend is expected.
The price is below the 21-Day WEMA which acts as a dynamic resistance.
The RSI is at 39.
The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Price is in the support zone...
trx needs to break that descending channel
now I can see that 20 day ema green slightly crossing the 50 day ma black
which is a bullish sign and candles are forming above the both moving averages
but still we need to wait because its decision time for trx 560-570sat is a strong resistance
need to break this descending channel and 565 resistance
. TRON/BITCOIN is in a range bound and beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 35.
. The price is in a range bound and we forecast the uptrend would begin.
. There is a possibility of temporary retracement to suggested support zone...
TRON (TRX), not financial advice.
Might want to sell before token swap situation medium.com
But it could also continue to pump through the swap, trailing stop will protect you.
Target 1: 1000 (870 short term)
Target 2: 1083
possible profit 25% - 34% (7.7% short term)
possible loss 4.34%
Risk/reward 5.77 - 7.89
Keep your eyes on...
After an Incredible run TRX is still holding on the trend line as we have a lot of buyers in the 860 - 900 area , on the bright side TRX is now in a smaller consolidating ascending triangle which will be breaking upwards but as BTC market still slides down a break of the current triangle upward could achieve a target between 970 - 990 sat. Good luck!
As we can see from the 1 H Chart of TRXBTC(TRON BITCOIN PAIR) that we are currently in the 3rd impulse of the Elliott waves.
To subdivide it, we are currently on the 3rd subway.
The RSI is making higher Lows and also the MACD is bullish.
The expected target of the 3rd wave is around 900.