TRON TRX/BTC TECHNICAL ANALYSIS 5/14/2018
TECHNICAL ANALYSIS:
- TRON corrected down to the .618 level @ 725 satoshi and looks to be making its sub waves up to the complete the 5th wave of this market cycle
- RSI is trending upwards and needs to stay between 40-80 to be considered bullish
- There will be resistance between 850-875 satoshi
- It has broken out above the 200 EMA which will act as support
- It has not yet broken above 55 EMA which will be the next barrier to cross, also coinciding with 850-875 satoshi resistance levels
- Sell target between 1250-1370 satoshi based on price action history and fib extension (1-3 week time frame)
Necessary Elements:
- INCREASING VOLUME!
- The total market cap for all of cryptocurrency is 411billion dollars as of 3:00pm PST, which is up from the 380billion dollars we were at a few days ago
- In order for Tron to break these resistances, an increase in volume is mandatory
- The correction to the .618 (golden zone) is ideal for the next move upwards and confirms previous designated target ranges
- Consensus is this week and I expect this to be a volume driver for the entire market throughout this week and the weeks following (between now and mid June)
- Although this is speculation, historical data has shown an increase in price for both Bitcoin and alt coins during the week of, and the weeks following Consensus
If you have found this helpful, please UPVOTE, FOLLOW, and RESTEEM :0)
Any and all donations are much appreciated and will allow me to continue producing free analysis! Let me know what charts and analysis you are interested in and I will be happy to work on them!
- LITECOIN: MNwqCX6HoU6MeU9SRwNakT3iHEkfrig2YB
- BITCOIN: 3MwvZ6Q7R7dtSR8P1o5bb3oz4hegwtSuiR
- BINANCE: 0xcaf1e0cd3de21a7d27497a95f8196f74a073ad76
- ETHEREUM: 0x4c8d59799E6EF1faE64Bc40D1668B77DD8d5e9Ed
START INVESTING TODAY! CLICK HERE TO SET UP AN ACCOUNT ON COINBASE
LEGAL DISCLAIMER:
I am not a financial advisor, nor is this intended to be financial advise. I encourage you to do your own research considering this blog is a way for me to document my own personal analysis, charts, trading decisions, and experiences. If you would like to learn more about trading, cryptocurrencies, and the resources I used to learn how to trade and invest, see my previous post - LINK.