TRON decision time - 6 Possible Elliot Wave Counts & 5 Scenarios
Updated
We are approaching a time where TRX has to decide what it would do.
BTC may decide it for us 'thou if it continues to fall. So keep an eye on it too.
6 Possible counts with 5 scenarios , starting from best-case to worst-case: (
Also MACD seems to want to cross, and RSI is staying in >50 area.
All the counts are based on different Fib levels, depending on the Initial start.
1) GREEN + Purple
It will start 5th Major EW now and go in 600-700 satoshi area.
The Purple correction count is confirmed.
Scenario happens:
IF it stays above 495-500. (you can really stretch it to 485 if you're *that* hopeful)
AND IF it breaks out of MA(25). That means >520 satoshi. Let's say 530 to be safe.
2) Pinkish(?) White.
We are approaching another 5th Wave of correction and
White-ish count is confirmed.
TRX 2.51% might still breakout from this one.
3) Second GREEN.
After Pinkish correction, 5th Wave of MAJOR EW starts.
4) RED - EW possibly failed
We are still in a correction and it's heading to 420 (haha).
Confirmed if it starts GrWave2 and does NOT pass 490 resistance.
(maybe even 500, to round it up nicely)
5) Yellow
The same as RED, but basically...slower
And as a side note...
I believe TRX on very long term (months/years) is NOT a 'HODL'. 'CEO' acts like a con artist too much.
But we can make a decent profit of it right now.
BTC may decide it for us 'thou if it continues to fall. So keep an eye on it too.
6 Possible counts with 5 scenarios , starting from best-case to worst-case: (
Also MACD seems to want to cross, and RSI is staying in >50 area.
All the counts are based on different Fib levels, depending on the Initial start.
1) GREEN + Purple
It will start 5th Major EW now and go in 600-700 satoshi area.
The Purple correction count is confirmed.
Scenario happens:
IF it stays above 495-500. (you can really stretch it to 485 if you're *that* hopeful)
AND IF it breaks out of MA(25). That means >520 satoshi. Let's say 530 to be safe.
2) Pinkish(?) White.
We are approaching another 5th Wave of correction and
White-ish count is confirmed.
TRX 2.51% might still breakout from this one.
3) Second GREEN.
After Pinkish correction, 5th Wave of MAJOR EW starts.
4) RED - EW possibly failed
We are still in a correction and it's heading to 420 (haha).
Confirmed if it starts GrWave2 and does NOT pass 490 resistance.
(maybe even 500, to round it up nicely)
5) Yellow
The same as RED, but basically...slower
And as a side note...
I believe TRX on very long term (months/years) is NOT a 'HODL'. 'CEO' acts like a con artist too much.
But we can make a decent profit of it right now.
Trade active
I guess green lines could be a bit sharper than predicted. Oh well...
Trade active
Safe target: 600 satsOrder cancelled
Seems like it's beginning to plateau around 566 for some time.I might be the start of a monster big wave,
but with Bitcoin being so uncertain I'd rather take profits and wait.
Note
it might* be start of a monster big wave.***But it could ALSO be a correction waiting to happen.
Again. I'd rather be taking profits and wait now.
Related publications
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.