TRX's Five Wave Elliott Formation Goes To 320 Satoshis
I believe TRX began a trend reversal on September 9, 2019, the date on which the weekly RSI reached the lowest value ever recorded.
The price has possibly began the third of a five wave Elliott formation, which is expected to take the price all the way to the previous breakdown level at 320 satoshis.
The possible creation of an ascending triangle (dashed lines), which is a bullish pattern solidifies my belief for a breakout.
The daily chart also shows a bullish cross between the 50- and 200-day MAs (golden cross) and the price finding support above the latter MA.
As long as the price is staying above this MA and the ascending support line, its directional bias is bullish.
(If you like my idea and want me to continue publishing, pressing the like button would be extremely helpful)
The price has possibly began the third of a five wave Elliott formation, which is expected to take the price all the way to the previous breakdown level at 320 satoshis.
The possible creation of an ascending triangle (dashed lines), which is a bullish pattern solidifies my belief for a breakout.
The daily chart also shows a bullish cross between the 50- and 200-day MAs (golden cross) and the price finding support above the latter MA.
As long as the price is staying above this MA and the ascending support line, its directional bias is bullish.
(If you like my idea and want me to continue publishing, pressing the like button would be extremely helpful)
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