TRON: weekly market analysis (from 29 December to 4 January 2020 on BTC / TRX pair)
As I write TRON it shares about 182 satoshi so what we have to do is wait for the bears to push the price even lower; net of this, despite the fact that the logical thread we are following is still valid, we are still going to take a quick look at the graphs to check which price ranges to keep an eye on.
BTC / TRX wait for the wedge to break
As we did last week, we leave out the upper time frames and go directly to look at the 1D graph to follow the evolution of the pattern we have identified; moving sideways in the past seven days TRX is now very close to resistance, so there is certainly no need to buy right now.
Keeping in mind that the top of the wedge is placed in the first days of February, I would recommend, over the next thirty days, to follow the progress of TRX daily to ensure that we do not remain cut off when this bullish wedge is broken.
The feeling is that the price will continue to move lower until at least mid-January and only after having tested the support once again should the bulls be able to find enough thrust to generate a new bull run; in any case, keep in mind that any closing of the day above 190 satoshi would be a sign of purchase, while for those who are doing hodling it is still appropriate to place a stop loss in the 147 satoshi area.
Weekly forecast
In a very short term perspective, let's say from here to the next ten days I consider it premature to go long on TRX, simply because the market will offer better entry points; in short, better to wait for the sales than to buy immediately; different the matter regarding a longer time horizon, in this case in fact they are still strongly bullish on this currency.
My belief is that between now and the next three months the crypto created by Justin Sun will give excellent profits, for now, however, the smartest thing to do is to wait and observe the price trend in order to buy as low as possible .
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.
