Hello Crypto lovers!
As you know, we are still bullish on many cryptocurrencies, the only difference is that some of them are looking for wave 3 and others for wave 5. Tron is one of those, which are looking for wave 5, as you can see on this 4hour chart.
So,
TRXUSD can be unfolding a five-wave cycle after we saw sharp and impulsive rally from 0.02269 lows towards 0.1010 level. Wave 3 is usually the sharpest and the most impulsive wave, so we are not surprised that we saw only a three-wave (A)-(B)-(C) correction back to a previous wave (4) support, which gives us a signal that this is just another wave 4 of a higher degree, so wave 5 towards new highs should follow and as you can see, it can be already underway. So, be aware of more upside and even if stays sideways here, we expect that sooner or later Tron will see new highs above 0.1 level.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
As you know, we are still bullish on many cryptocurrencies, the only difference is that some of them are looking for wave 3 and others for wave 5. Tron is one of those, which are looking for wave 5, as you can see on this 4hour chart.
So,
TRXUSD can be unfolding a five-wave cycle after we saw sharp and impulsive rally from 0.02269 lows towards 0.1010 level. Wave 3 is usually the sharpest and the most impulsive wave, so we are not surprised that we saw only a three-wave (A)-(B)-(C) correction back to a previous wave (4) support, which gives us a signal that this is just another wave 4 of a higher degree, so wave 5 towards new highs should follow and as you can see, it can be already underway. So, be aware of more upside and even if stays sideways here, we expect that sooner or later Tron will see new highs above 0.1 level.Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Note
Hello, Crypto traders. Time for update. Well, Tron just like other cryptocurrencies slowed down into a correction. We mentioned above about that sideways price action, because wave 4 can be sometimes very complex, so seems like Tron trapped in a bullish triangle pattern, which is very common for wave 4. So, we still expect that Tron will continue higher for wave 5, as long as it's trading above 0.054 invalidation level.Note
No triangle, but FLAT? Nice bounce just above invalidation level, not only here, the whole crypto market bounced just in time! Be aware of more upside here..
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Disclaimer
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