SUMMARY
The sideways price channeling of Tron (TRX) seems to be continuing with the likley next rise towards the uppwer white line of the parallel trend lines. The wider scope of this correction primarily reads as a complex triple correction with the final Z wave not expected until early May timeframe. The white rounded bottom also emphasizes the undertone of the continuing sideways action of price and time.
The alternate count is potentially quite bullish. The triple complex of wxyxz (blue) can at times morph into a combination. The final Z wave can become a triangle as labeled in teh below chart. IF this count is correct, then there is a likelihood that the correction has potentially bottomed. Still, the earliest indication of this bottom has to be evidenced by a process of two rounds of an impulse and the first seems still to be in its early stages.
A closeup shows the start of the first round of impulse. The yellow circle shows the presenc of a bull flag for white wave 2 and the full impulse could allow the breach of the upper trend line of the channel.
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