Two days ago, you can see that there was an enormous spike up, on heavy , as Tron defined the bottom of the channel. Since the spike, Tron has been in a downward consolidation, forming an obscure . However, you can see that Tron is running into the 20 and 50 EMAs, as they cross into the bottom of the flag. So, we can use these moving averages as a gauge of the viability of the flag. In other words, if Tron starts to break down below the EMAs, and especially the bottom of the flag, then we may see a retest of the bottom of the blue channel. A breakout above the , is likely to send TRX/BTC up to the 650 area.
Since Tron is very close to the bottom of the , and it's testing the EMAs, you can watch to see if a failure occurs right here. A hold on these EMAs will put the top of the flag in play, and then the higher aforementioned targets.
There is a crossover on the , and is plummeting, but that is normal to see inside of a consolidation, so I wouldn't read into it too much, unless a failure of the emerges.
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! revoir! ;)
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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