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RE: TRON (TRX/BTC): ABCDE Nearly Complete
We should be used to the roller coaster ride if we are trading in crypto, Tron is not exempted in this avenue. As @haejin discussed, the triangle pattern nearly complete then aftr that will be the usual rise of the coin. Its hightime now to own a considerable amount of TRX. 👍
There is no any triangle pattern on Tron if you watch the chart on other exchange:)
But I agree with @haejin due to upcoming move up:)
https://steemit.com/cryptocurrency/@andriustovis/tron-update-big-move-up-is-coming
Not sure exactly how your ABC works; but if Elliott Waves based, then the channel would usually have abcde.
I'm not 100% Eliot wave trader. My abc is corective structure of 2nd move as you showed, but here could be a bigger abc corective structure with abc in the middle. Not always you will see 1,2,3,4,5 moves up as Elliot wave theory says, sometimes it can be just 1,2,3 corrective move.
Why all your analysis are so optimistic?
#BTC continued its decline and is now trading near the $ 9800 mark.
There is a possibility that the cue chart, like all crypto currencies, formed the "bubble blow off" scheme. This has already been two times: a fall from $ 32 to $ 2 in 2011, and a fall from $ 1175 to $ 230 in 2014.
Now 2018 and I'm guessing blowing from $ 20,000 into the $ 4000-5000 zone. Yes, there is a future for bitcoins, but realities at the moment are not the most positive. As they say, everything is cyclical. And now. The market punishes the weak and greedy players.
From a technical point of view, the trend is still downward, the trend line is not broken, and therefore further decline looks very logical.
Yes, the critical juncture is for he upper trend line to be breached. IF the inverted H&S pattern completes and confirms with Neck Line breach at $12k; it'll be ideal!
Keeping powder dry and frugally laddering into lower lows would help provide better psychological and emotional balance.
You just made my day I got in at 3cents during the infamous dip