Now looking ahead the bottom is likely here or will be very shortly, wave A retraced just under the major support and bounced aggressively forming our wave B rally. In wave C we did not get a lower low even with a harder btc dip. This tells me that the bottom actually may have been formed. This theory could be tested if btc has what i believe will be its last dip before correction completion however we will likely only get a around 380 sats unless btc breaks down hard. If btc breaks down hard and we see 2 closes on the 1 day chart below the major support my wave count is void (violation of rules) I don't think this will happen but that is my bear scenario and the risks involved in this trade.
If btc has found support i expect TRX to trade sideways for a while before we commence wave 5. Now for wave 5 to be considered a successful impulse wave up thus completing my count it needs to finish above wave 3 (needs to make progress). This means that long term on completion of wave 5 we can expect +400% gain before a heavy correction.
RSI: Still room for it to go down but still oversold currently.
Ill update this analysis if there is any drastic change in the situation.
Thoughts and critiques are most welcome.
*THIS IS NOT FINANCIAL ADVICE AND IS FOR EDUCATIONAL PURPOSES ONLY*
In regards to the fibs thank you for pointing that out we should be touching around a 1.0 retrace my mistake which like i said is worrying in terms of wave 4 retracement.