dcardona1
Panjang

TRON's turn to go up!

BINANCE:TRXBTC   TRON / Bitcoin
With BTC             , LTC, and ETH's rise in prices, the altcoins have started playing catch up. Ripple (XRP) and Appcoins (APPC) have made good progress in putting in a bottom. Is it Tron's turn? I could see Tron reaching back down to $0.02 earlier but with everything going up and the Chinese new year, I see more potential to the upside. We had some good volume yesterday 24 hours ago on 2/15 6pm EST but came back down pretty quickly. Still in a descending triangle formation getting closer and closer to breaking out.

If we go up, I anticipate first targets to be around the 700-750 satoshis. We have confluence using a fib extension from low of 400 sats             to previous high of 630 sats             . The 1.618 extension lines up within the TP1 box based on S&R levels along with a retracement from ATH             to 400 sats             .236 level. After hitting this level, I would expect a retest of previous structure of 620-650 sats             . This is not required if we have enough volume to take us to TP2 level. TP2 has a nice confluence level as well with the same extension at 2.618 and a retracement from ATH             to the .382 level, 900-1000 sats             .

Let's see how TRON plays out. Comments and feedback appreciated, good luck!
hello, looks great.
If you had time, could you an EW on APPC? Much appreciated :)
Balas
dcardona1 kitkat16
@kitkat16, i will take a look at it but I am no expert. Please don’t make financial decisions based on my charts
Balas
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