TRX/BTC Bottom is likely here potential +400% long term

Hi guys, let me start off by saying I'm not really a fan of Tron I am purely doing this from a TA perspective and not FA. Overall the chart at this point for TRX looks great, clear cut Elliot waves and correction waves. The heavy retrace in the current wave 4 is concerning however taking into account wave 3 took us up over 400% and wave 2 did not retrace much it satisfies the guidelines for Elliot theory nicely (correct me if you see differently).

Now looking ahead the bottom is likely here or will be very shortly, wave A retraced just under the major support and bounced aggressively forming our wave B rally. In wave C we did not get a lower low even with a harder btc dip. This tells me that the bottom actually may have been formed. This theory could be tested if btc has what i believe will be its last dip before correction completion however we will likely only get a double bottom around 380 sats unless btc breaks down hard. If btc breaks down hard and we see 2 closes on the 1 day chart below the major support my wave count is void (violation of Elliot rules) I don't think this will happen but that is my bear scenario and the risks involved in this trade.

If btc has found support i expect TRX to trade sideways for a while before we commence wave 5. Now for wave 5 to be considered a successful impulse wave up thus completing my Elliot wave count it needs to finish above wave 3 (needs to make progress). This means that long term on completion of wave 5 we can expect +400% gain before a heavy correction.

RSI: Still room for it to go down but still oversold currently.

Ill update this analysis if there is any drastic change in the situation.

Thoughts and critiques are most welcome.


I believe tron already completed elliot wave cycle with point 5 being around 2050 sats. You can see that by putting fibs at your first (1 wave) and 4.236 fib is reached.
You should count your ABC as 012 points of the new elliot waves and then put the new fibs for the new targets.
@michaelkent, Thankyou for the comment, I had tried counts with my wave 3 being wave 5 however these all ended up with wave 3 being the weakest wave which violates elliot rules. My current count has clearly defined sub-waves which is why i chose it for my primary count as well as my wave 3 did not exhibit momentum divergence which is typical and indicative of wave 5 if that makes sense.

In regards to the fibs thank you for pointing that out we should be touching around a 1.0 retrace my mistake which like i said is worrying in terms of wave 4 retracement.
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出