TRON: weekly market analysis (from 22 December to 28 December 2019 on BTC / TRX pair)

The past week has been a good opportunity to accumulate for those who managed to buy on Thursday's lows, and now we are looking forward to a new buying opportunity when the price returns to the closest support.

BTC / TRX for bulls is only a matter of time

At this moment it is completely useless to observe any other graphs other than the one-day time frame, which is enough for us and makes us to do our analysis; the first thing we have to highlight is how the resistance, with the last test of last Sunday, has already been tested six times, while the support has been tested only three times so in purely probabilistic terms the most probable scenario is just one breaking resistance. Currently the price is falling, so it is premature to buy now, what we have to do is wait for a new test of the support that should take place in 170 satoshi area; difficult to make predictions about the timing, however I expect this to happen within this week. At that point the bullish wedge will have tightened enough that any level will be good for the purchase, given that the lowest point of the wedge is in the 147 satoshi area and therefore we cannot exclude that the descent will continue up to that price range; in any case, TRX is currently one of the most interesting coins to observe and among those that offers one of the best buying opportunities.

Weekly forecast

What I expect from TRON is that between now and the next ten days it touches a minimum in the 160/170 satoshi area, at which point the pressure of the bulls should be strong enough to definitively break the bullish wedge and throw the price up; we can certainly give a return to the 240 satoshi area, which would still be a good profit, but in my opinion we will go to a new high and we will probably return to touch the 400 satoshi. The feeling is that 2020 will open under the banner of alt, which will recover some of the losses accumulated so far paired with bitcoin; in short, the months that separate us from halving should turn out to be positive for the other currencies, if then the halving of the reward destined for the miners were, as always happened so far, to skyrocket the BTC price then we will see a massive shift of liquidity from altcoins to bitcoins with consequent, typical, collapse in prices.

Please note: this post is not intended to provide in any way financial advice related to how to invest your money but it is purely educational