Tron (TRX) Ascending Triangle formed. 10% movement likely

6 juin 2018

Tron is currently in an symmetrical triangle in the 1 hour, looking like we will get a 10% movement either down or up. If we do breakup, it will further confirm our uptrend line as it is somewhere around the 740-760 mark.

However, more big news is coming for tron, including three new exchange listings coming up in two days. The founder is currently hyping up the super representatives event that will occur on the 26th, so that may have an influence on the price as voting requires Tron. People who get elected to be a node will receive 32 TRX per second if they generate a block, around 50 million USD will be split between the nodes per year.

Next news events:
Bitforex listing on June 8, 2018.
Three boutique exchanges on June 9, 2018
Super representatives on June 26, 2018

Therefore, we have reason to believe that a breakup is more likely.

Buy in:
775 price range

Sell targets:
850 satoshi mark

Stop loss:
748 satoshi level or higher depending on the risk you wish to take.

If this breaks down however, it will likely drop to the 700 satoshi level.

Thanks for viewing. Please leave any criticisms in the box below. As for me, I already bought my TRX at 774, and hopefully this movement will happen in the next 24 hours.

6 juin 2018

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4 hour chart

7 juin 2018

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Didn't work out as planned, but if we can hold at 750, looks like a descending triangle.

Meaning that we will probably break down. I guess too many people are holding bags of trx for it to recover after just 11 days.

7 juin 2018

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7 juin 2018

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8 juin 2018

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Breaking down. Going to probably bounce down to 700 sats unless we see a strong bounce.

8 juin 2018

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On the other hand, this could be forming a falling wedge, which is a bullish pattern.