So this is not really TA but rather an observation.
TRX seemingly is running the inverse of the previous price action as of early March. The blue rectangles marks the center line of the inverted price action. It is obvious that it is not going to be the Elliot Wave after the point did not retrace 100%. However, it did retrace pretty close. Corresponding numbers labeled in each side of the center point suggest which point correspond to its opposite. Here are some notable observations:
1) The current price action seems to be setting up an inverted Head and Shoulders pattern. This essential if completed would support the future wave that would correspond to wave 7 to the left.
2) Notice, for the most part, on the left, where there is a sharp incline, the opposite side shows a sharp decline. If the movement is lateral on the left, so is the right.
Are these indicators? Very much looks like it when you add this observation to TA. Same runs true for Bitcoin
TRX seemingly is running the inverse of the previous price action as of early March. The blue rectangles marks the center line of the inverted price action. It is obvious that it is not going to be the Elliot Wave after the point did not retrace 100%. However, it did retrace pretty close. Corresponding numbers labeled in each side of the center point suggest which point correspond to its opposite. Here are some notable observations:
1) The current price action seems to be setting up an inverted Head and Shoulders pattern. This essential if completed would support the future wave that would correspond to wave 7 to the left.
2) Notice, for the most part, on the left, where there is a sharp incline, the opposite side shows a sharp decline. If the movement is lateral on the left, so is the right.
Are these indicators? Very much looks like it when you add this observation to TA. Same runs true for Bitcoin