TRON (TRX/BTC) looking VERY scary, short soon!
Updated
TRON has been going up many 1000s% recently, but it is becoming more and more scary that such a large correction has not been met with an almost equally large price jump from the next part of Elliott's Wave Cycle (B). In my opinion this shows lack of confidence in price, even if there is a pullback, I don't think it is enough to keep the train going...
I also noticed that this pattern would make a perfect head and shoulders so moving into the rectangle, I would assume that there would be a lot of indecisiveness among traders, but most likely a sideways/slightly bearish pattern would follow. Only then would I possibly advise calling TRX a smart investment.
Best of luck!
I also noticed that this pattern would make a perfect head and shoulders so moving into the rectangle, I would assume that there would be a lot of indecisiveness among traders, but most likely a sideways/slightly bearish pattern would follow. Only then would I possibly advise calling TRX a smart investment.
Best of luck!
Note
Update: I was almost 100% right, but I understated just how bearish the pattern would be after finishing the neckline.. Well either way hopefully some of you listened, this is not the worst to come IMO!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.