TRON TRX Possible Scenario - Bull Flag Formation
Updated
TRX jumped out of nowhere earlier today. (I've been told in the comments it got pumped because of a listing)
Spectacular and all that.
But a jump this big, this fast always has a consequence : running out of steam very fast.
MACD 2H looks as surprised as we are, right now. :/
So, I'd say TRON is looking for some Snickers right now, to be ready to make the next Elliot Wave.
Last time the 3rd Motive Wave happened was when 2H MACD crossed upwards.
I expect a phase cycle of MACD 2H candles to be completed on the downard phase, before we can see another pump.
With that in mind, I believe TRX will form a Bull-Flag Triangle or a Bull Pennant until that happens and the exit from that would be our queue for the next wave.
I also believe this will take some time to happen - no rush.
I also reckon a good buying area for the next Motive Wave to be between 530 and 580 satoshi.
Dream Scenario would be a retracement to 500 sats, but I don't think that is likely, since MA(100) forms a strong support at 530 sats.
With that in mind: lower than 500 sats and staying there = trouble.
Spectacular and all that.
But a jump this big, this fast always has a consequence : running out of steam very fast.
MACD 2H looks as surprised as we are, right now. :/
So, I'd say TRON is looking for some Snickers right now, to be ready to make the next Elliot Wave.
Last time the 3rd Motive Wave happened was when 2H MACD crossed upwards.
I expect a phase cycle of MACD 2H candles to be completed on the downard phase, before we can see another pump.
With that in mind, I believe TRX will form a Bull-Flag Triangle or a Bull Pennant until that happens and the exit from that would be our queue for the next wave.
I also believe this will take some time to happen - no rush.
I also reckon a good buying area for the next Motive Wave to be between 530 and 580 satoshi.
Dream Scenario would be a retracement to 500 sats, but I don't think that is likely, since MA(100) forms a strong support at 530 sats.
With that in mind: lower than 500 sats and staying there = trouble.
Trade active
If we include the wicks in the triangle it will be a little sharper.MACD 2H is about to cross downwards, so I'm NOT expecting a pump very soon.
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Well, it seems TRX wants to be *hodl*ed.It doesn't look that great so far, 480 satoshi is a bit low in my books, but it still holds the elliot wave.
Now we are waiting for a spike/pump.
*when* it would happen....I have no idea.
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