Hi, these are my thoughts on TRX/BTC.
Situation 1: TRX is in its ABCDE correction wave. Buy orders can be placed around the E level. Make sure to set stop losses on the levels beneath the triangle.
So situation 1 would be: buy at E > new market cycle can start > 400%+ potentials. Make sure to set stop losses, because situation 2 can also happen:
Situation 2: TRX is not in an ABCDE correction but an ABC correction. The D and the E disappear on the charts and the C (current wave) can be placed somewhere around the "4" niveau of the elliot waves.
The time will learn us in what kind of situation we are in.
HAPPY TRADING !!!
Situation 1: TRX is in its ABCDE correction wave. Buy orders can be placed around the E level. Make sure to set stop losses on the levels beneath the triangle.
So situation 1 would be: buy at E > new market cycle can start > 400%+ potentials. Make sure to set stop losses, because situation 2 can also happen:
Situation 2: TRX is not in an ABCDE correction but an ABC correction. The D and the E disappear on the charts and the C (current wave) can be placed somewhere around the "4" niveau of the elliot waves.
The time will learn us in what kind of situation we are in.
HAPPY TRADING !!!
We can see the C drop further below to earlier support/resistance levels.
Meaby it will test the fib level and then bounce to the upside.
Wait for C to finish and look for trend reversal patterns!