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TRON
Long

TRX/USD Secondary trend (part) 18 11 2023

By SpartaBTC
Updated
Logarithm. Time frame 3 days.

The ascending channel in the lower part of the big triangle. Local work in it from the key support / resistance levels.


The whole range of this channel on a larger scale..

snapshot


Everything is more detailed and shown in the ideas of the main trend..

TRX/USD Main trend. Channel. 17 11 2023
TRX/USD Major trend. Channel. 17 11 2023


Note where this zone (channel) is in the main trend.
Comment
snapshot A triangle has formed under the resistance at 0.1118. The price is clamped in the corner. #StopLoss is locally retired. Decoupling soon (general market situation). More up than down, especially as far as local targets are concerned. For example, a move through a false breakout.

Recall that BTC re-entered the $44,000 zone today, Which is key resistance for a reversal to 36-28-26 or "superpump".
Trade closed: target reached
snapshot +3% to triangle resistance and key bullish reversal level (in yellow) and pullback to the meridian of the formation (in green). Price is further cornered. The exit is coming soon.
Trade active
Trade closed: target reached
snapshot local work. +32.7% so far from the triangle breakout. Price at important channel resistance 0.14422 (as on bitcoin earlier.

Breakthrough - exit to 0.185
Not breakout - local pullback to the meridian of the channel (see publication idea).
Trade active
Comment
snapshot snapshot From the resistance of the ascending channel at the level of 0.0142 (0.14422) the pullback to the meridian of the ascending bullish channel began, as it was supposed earlier. A triangle formation was formed. There will be a decoupling in the near future (waiting for BTC).

It is unlikely to be a descending pennant, but if so (low probability), the stop loss is very short....

There is likely some single chart news being prepared. Chances are it won't be a FUD. In the same way, the price of other assets of TRX group is being clamped down on by the well-known market maker Justin Sun. As a reminder, this is: SUN BTT JST NFT.

Who works with stop losses, This is true not only for TRX. Right now, stop losses are very short, with a good potential profit/loss ratio.
Trade closed: target reached
snapshot local work. From the reversal zone of 0.12139 (not a trendline breakout, not a consolidation) a downward pennant to the targets of the figure zone 0.106 - 0.112 was realized. At the moment the situation is reversed. A local rising flag may be realized now. #stopLoss on loss limitation is very short. An important local resistance zone is the dynamic ray (former trend support). There may be a local pullback from it.

Note how the number of active addresses of this tron network blockchain has increased. It is also worth paying attention to other assets of the marketer of this blockchain - Justin Sun.
Trade active
Comment
snapshot 05/06/2024 pullback in the key resistance zone.
Comment
snapshot 05 06 2024

Price in the former consolidation zone. A double bottom has been formed locally in the triangle - a potential “dragon”.

In case of triangle breakout - the first target is the resistance of the double bottom, the second - local highs. The third one is the target itself.

In case of no breakout (at the moment there is a potential inside the figure to resistance +8%), or false breakout, a descending wedge will be formed. Then with a high probability it will be pulled upwards.

Remember, everything that happens on the TRON cryptocurrency is a natural increase in supply/demand, with no news background plugged in. Over the past couple months, there has been a very significant increase in new TRX wallets (the main blockchain for USDT) because of USDT. That's a good sign right now. But, in the notionally distant future, it will have to be reckoned with, as it is the “USDT sore spot”).
Comment
snapshot
Trade closed: target reached
snapshot The local target was reached +8.23% to the key reversal “level” of 0.12139. Reversal zones and logic are the same as before, nothing has changed and cannot change.
Trade active
Comment
snapshot similarly, as ZEC goes against the market, according to the first scenario, again locally reached the level of 0.1429, about +20% in a few days, for such liquidity it is normal. It is worth noting that during or after BRICS in the fall there will be big news on TRON.
Trade closed: target reached
25 08 2024 snapshot reached the second local target 0.155 -0.16 The price is moving along the dynamic resistance of the fan. The local triangle targets are now reached at the moment +40%
Trade active
19 09 2024 snapshot throne locally. Pivot zones and percent potentials of trend direction scenarios.
CryptocurrencycryptocurrencysignalsPivot PointsSupport and ResistanceTrend AnalysisTRONtronusdTRXTrontrxusdt
SpartaBTC
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