TRON: weekly market analysis (from 19 January to 25 January 2020 on BTC / TRX pair)

BTC / TRX bears are out of hibernation

This week we had the opening of the new candle of the month, so a first positive sign comes from the fact that we had an opening above the pivot point, even if only slightly; other information from the 30D chart cannot be retrieved, so let's move on to the weekly chart.

On TF 1W we see that the price cannot break the resistance represented by the EMA20, after being rejected in November, in fact, it seems that it will be rejected again in these days; the feeling, therefore, looking at the weekly chart is that the bears will soon be trimming a heavy paw that will almost inevitably cause the breaking of the support.

As for the 1D graph, it is almost useless to observe it, given the situation we are in at the moment, so let's move on the 4H time frame to try to understand if there are more chances of a break in the resistance or support; here we immediately see an ugly bearish divergence, perfectly visible on both the MACD and the RSI, also the EMA20 is now close to cutting the EMA50 downwards, so in the short term we are facing a decidedly bearish scenario.

Weekly forecast

Right now I have to admit that TRX is back in a blatantly bearish scenario; what I expect in the next few days is a break in support in the 185 satoshi zone and a resumption of the bearish push.

Those who bought at the beginning of this cycle would do well to take profit, those who bought in the middle of the cycle should accept the loss and close the position reducing the damage as much as possible.

All the others, however, must continue to monitor the situation closely, if TRON marks a new low it will mean that we are still in a bearish trend, otherwise there would be excellent chances of a reversal.

Please note: this post is not intended to provide in any way financial advice relating to how to invest your money but has purely educational purposes.

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