Tron analysis: Bears running out of time?
The bearish trend in Tron (TRXBTC) that commenced on April 30, 2018 has progressed into a side trend best described in this Tron analysis as a rectangle bottom chart pattern.
Ellipses are drawn to indicate pivots used to establish the chart pattern. The rectangle bottom (ideally bullish) has been active for over 3 months now and does suggest the culmination of the previous trend, which would argue for a possible bullish upside in Tron (TRXBTC).
Price levels associated with the proposed rectangle bottom are also indicated and should be taken into consideration upon eventual breakout from the pattern. A close below 0.00000292 is used as the point of invalidation (POI) of this analysis.
Ellipses are drawn to indicate pivots used to establish the chart pattern. The rectangle bottom (ideally bullish) has been active for over 3 months now and does suggest the culmination of the previous trend, which would argue for a possible bullish upside in Tron (TRXBTC).
Price levels associated with the proposed rectangle bottom are also indicated and should be taken into consideration upon eventual breakout from the pattern. A close below 0.00000292 is used as the point of invalidation (POI) of this analysis.
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