The price of TRXBTC cryptocurrency after three up waves is now in corrective cycle wave 4. From a technical point of view, the shape of wave 4 resembles a flag ( ) pattern and from the point of view - a .
A cluster of Fibonacci levels, which is the abolition of 61% of the last growth swing, is between the ranges 0.00000796 - 0.00000888, just above the level of support at the level of 0.00000690. This should withstand the pressure of supply and be the basis for further growth.
Breaking the mountain towards new peaks will be sudden, violent and fast. The first target level is 0.00002420, the second - 0.00002894 (as far as the 4th wave at the level of 0.00000690 will not be violated)
TREND AND IMPORTANT LEVELS:
Main trend: GROWTH
Intermediate trend: DROP
Daily trend: DROP / NEUTRAL (continuation of the correction and the option of breaking)
- for further increases - level 0.00001398
- for continuing correction - level 0.00000888 and 0.00000796
- for the continuation of decreases - the level of 0.00000690
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Please watch the green support line at the level of 0.00000479!
Buyers defend the support, but for how long?
Good Luck! :)
Breaking below the level 446 will mean the total invalidation of the impulsive scenario, and unfortunately, it will transform the $TRX analysis into a typical crypto of PUMP & DUMP character.
So far huge disappointment
In addition, the price is dangerously close to level 427, the breaking of which will invalidate the rise meter.
More and more the behavior of the market is similar to the scheme of beaters (PUMP & DUMP) and not a specific upward trend.
As this continues, it will be the biggest disappointment of 2018. The TRX is working hard on it.