Tron | The Forever Up Mentality
2024-09-24

Tron has been growing since November 2022. November 2022 is the same month when Bitcoin hit bottom. While Bitcoin peaked in March 2024, Tron continued higher and produced a new high in August, thus we have a 644 days long bullish phase.

What you are seeing depicted on the chart as ABC is called an irregular correction. If we consider the last higher high as part of the previous bullish wave, we have to assume a forever up mentality and the market has already proven this not to be the case.

In an irregular correction the second (B) wave produces a higher high compared to the end of the bullish wave. Just as it happened with Bitcoin between November 2021 and April 2021. 

April 2021 was the orthodox end of the bull-market.
November 2021 produced a higher high as part of an irregular correction. This happens because of the Covid monetary expansion policies. When there is big monetary expansion, fiat loses value and thus you can see these patterns.

The thing is that Tron is going down and Tron going down confirms the others are going down because the market never moves straight up. What one does, the rest follows.

The correction is not over but the end is getting close.

I'll lave the theory for another day.

Wishing you a happy week.

Namaste.