BarclayJames

TRXBTC support found, now quiet consolidation

BINANCE:TRXBTC   TRON / Bitcoin
It looks like Tron has found good support at the 400 satoshi level. This has been tested at least three times and I suspect that the price will now consolidate on and around this level for some time. In my experience these kinds of alts display strong hype patterns followed by a blow off and periods of quiet consolidation. This reminds me a lot like xlm             last year for example.

Immediately before the last hype pattern in December 2017 a strong bowl or cup pattern had developed and I think we are now forming a very, very large one of these. No telling how big it will be or how long it will take. If this is the case the next high will be at least as big as the previous, but most likely many times the size.

SCAM: People say Tron is a scam. What is a scam? Is XRP a scam or XLM             because they are centralised? Is BTC             a scam because it is a terrible currency? And does it really matter to you, after all you are only interested in dollars, am I right? And isn't the US dollar             a scam because it is printed out of thin air?

Crypto is entirely speculation, all fundamentals are based on the premise that one day these projects will actually be used. It has been 10 years and adoption is minimal at best, yet market capitalisation was over 1/2 trillion dollars. Now that is a scam, lol.

Tron has quite an active developer base and they are regularly making commits to github that seem to include significant code changes, which is more than I can say for many coins.
Komen: It looks like Tron is retesting this key level. If it can maintain support here we should start to see the beginnings of a consolidation phase.
Komen: Large vol injection shows positive interest in TRON is very real and despite the poor market conditions, TRX is showing promising signs.
Komen: TRX has broken support, but is holding quite well, no sell off. The market conditions are obviously dire right now. If it does fall further, next support is around 200.
Komen: Tron is holding its own during this market correction. The support zone seems to be at and around 400 satoshis. I think during the next bull market Tron is going blow so many people away, it'll just be a case of keeping an eye on it or simply getting in early. Certainly I expect a level at least close to previous ATH (if this is like XRP it could be less than previous, but of course BTC will be worth more).
Komen: I think Tron will retest the support zone, just don't think the market is ready for a rally yet.
Komen: Guys I said now quiet consolidation XD TRON is mega bullish but watch out: the RSI still hasn't bottomed out, would expect a value of less than 30, pref at least 28, before a genuine bull run

Komen: It's just a stab in the dark, but this is how I see TRX. I will buy if it does this
Komen: TRXBTC: I'm going to try to catch the dip at 790 sats. if I 'm right should be soon!
Komen: TRXBTC: back in Feb/Mar Tron showed great resilience at its natural support of 400 satoshis, even when BTC took a nose dive it remained pretty much in that green area in the above charts. Tron has again found a good support level imo and I expect it stay within 800 to 900 even if BTC drops in the coming days. The red line in the following chart is the high-low average from December, it may offer a rough guide, we may depart from it entirely.

I hope Tron will perform well during a BTC rebound.

Komen: TRX: could be we have to retest support zone.
Komen: TRXBTC:
large support zone at 630 - 850. Possible test of daily cloud. In general bullish compared with XLM or XVG

Do you think trx return on the support at 400 ? Maybe 600 - 700 ?
Balas
@TeddyZe, unsure I see 800s as possible. See update
Balas

I think the TRX return on the support about 680 - 700
Balas
@TeddyZe, Yes, 400 support is probably too low
Balas
wow! Awesome!
Balas
@matematik, Thanks!, I got lucky on this one, but no smoke without fire! TRX went crazy in Jan, these things never happen just once in crypto.
Balas
matematik BarclayJames
@BarclayJames, any update pls!
Balas
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