As you can see, my last prediction was correct and Tron fell to the bear flag formation. Now, Tron seems to be forming a cup and handle formation and is looking to break out on the 4 hour chart. Stay tuned for updates and watch for a breakout of the handle, as it has already started.
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SmartCrypto LLC does not give investment advice and takes no responsibility for trade losses or gains.
Like and follow me for more!
SmartCrypto LLC does not give investment advice and takes no responsibility for trade losses or gains.
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UPDATE: TRX is bouncing in the channel very nicely. Very obvious bull flag formation. Watch for breakout of the flag. Also consider a breakdown of the channel would mean bull flag failure.
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One thing that I sometimes forget to consider when doing TA on alt coins is that bitcoin is the king of all. Unless there is news, Tron loves to go down when bitcoin goes down. As we can see that is what happened here. I was expecting bitcoin to fall so I should have included the possibility that Tron would follow. We have broken support but are holding $.04 for now. Will be posting a new chart later today so stay tuned
- Max
- Max