TRON (TRX) Technical Analysis: Long Term Targets Remain Solid!

SUMMARY

TRON (TRX) longer term projections remain solid. Those will come into focus of posts once this correction completes. The below chart shows what is now becoming common and apparent throughout Cryptosphere, a combination/Complex correction. It is quite clear that Altcoins never rush their corrections and the reasons for this have been discussed frequently. Regardless, all corrections pass and this correction too shall pass. The blue WXYXZ waves fit quite well. The later charts show these fit into a couple patterns as well.

The complexity of a correction is added when the last Z wave becomes a triangle. Well, in this case, I believe there is a strong potential for a channel. This channel, like the triangle, is labeled with abcde subwaves. The blue Z wave could time extend, as reult into April or May.

If another month or so is found to be very bothersome, then at the very least, gaining perspective of this bigger picture could help. IF the correction does time extend while price moves pretty much sideways, the whole correction seems to be shaping out a rounded price formation as shown by the yellow line. This is often how the "Hurry Up & Wait" syndrome gets resolved via patterns. The most common is the Cup & Handle, then the symmetrical or wedge and then the broadening pattern. I believe we are more than 2/3 complete in this correction.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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