TRX Update
It has finished retracing/correcting and again started uptrending.
As we can see in the chart, the retracement was somewhere between .618 and .5 Fib level. General rule for a retracement (wave 2 or wave 4, not a,b,c correction) says that waves would be retraced from top (Five level 1) up to .786 or .618 level. Frankly speaking, since the mainnet launch is nearby and due to all the hypes around trx right now, I was expecting a retrace no to go below .618 level (852 satoshis). In this case, however, BTC movement affected trx retrecement a bit more.
Nevertheless, TRX have now finished a retracement and started uptrending with possible target between the Fib level 1.236 (1230 Satoshis) and the fib level .138 (1319 Satoshis). More on reservative side, it may go up to 1250 Satoshis.
This is strictly for education and learning purposes btw.
As we can see in the chart, the retracement was somewhere between .618 and .5 Fib level. General rule for a retracement (wave 2 or wave 4, not a,b,c correction) says that waves would be retraced from top (Five level 1) up to .786 or .618 level. Frankly speaking, since the mainnet launch is nearby and due to all the hypes around trx right now, I was expecting a retrace no to go below .618 level (852 satoshis). In this case, however, BTC movement affected trx retrecement a bit more.
Nevertheless, TRX have now finished a retracement and started uptrending with possible target between the Fib level 1.236 (1230 Satoshis) and the fib level .138 (1319 Satoshis). More on reservative side, it may go up to 1250 Satoshis.
This is strictly for education and learning purposes btw.
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