The price of TRXBTC -2.45% cryptocurrency after three up waves is now in corrective cycle wave 4. From a technical point of view, the shape of wave 4 resembles a flag ( pennant ) pattern and from the Elliott Wave point of view - a triangle pattern .
A cluster of Fibonacci levels, which is the abolition of 61% of the last growth swing, is between the ranges 0.00000796 - 0.00000888, just above the level of support at the level of 0.00000690. This support zone should withstand the pressure of supply and be the basis for further growth.
Breaking the mountain towards new peaks will be sudden, violent and fast. The first target level is 0.00002420, the second - 0.00002894 (as far as the 4th wave at the level of 0.00000690 will not be violated)
TREND AND IMPORTANT LEVELS:
Main trend: GROWTH
Intermediate trend: DROP
Daily trend: DROP / NEUTRAL (continuation of the correction and the option of breaking)
Key levels:
for further increases - level 0.00001398
for continuing correction - level 0.00000888 and 0.00000796
for the continuation of decreases - the level of 0.00000690