It is blantly obvious that TRON is highly bearish. It is also no secret that this coin is being manipulated by bots. Whatever the reasons may be for price suppression, could be considered highly bullish in the future. It is also highly probable that whales are trying to flush out as many weak hands out of the market as possible, for accumulation...
Triangles and and pennants will not predict anything for TRON. For TRON, you must look at indicators. Buy volume is LOW, MACD is bearish, and heavy resistence on ichimoku cloud.
Buy target: 430 sats ----> This is where we saw strong support, and a good demand zone
I have no doubt it will rise many times more as all cryptos will eventually, but anyone telling you to buy TRON at 700,600, and even 500 satoshis is simply trying to believe in their triangle/breakout patterns which will most likely not happen. You need to see where strong support is, and what indicators are telling you. And for now, TRX is highly bearish, and you will lose money buying at these levels. Bots will continue to slowly bleed out the price.
Nice analysis. About 15% of my portfolio is TRX and I got in at around 700 and I missed the second spike (which I was supposed to hit but I was on the road) obvious mistake on my part. Now I am trying to stop my weak hands from trembling. I already accepted my loss and I am just holding it for up to one year and monitor progress (ore decline) sporadically. Although I know you can't foretell the future, do you still think TRX has a chance to fully recover at some point or do you think it is a lost cause? (You hinted that it might go up again I think?) Thanks.
When the market recovers and becomes overall bullish, TRX should go to 900 sats. Just hodl.
J_DeFranza
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One of the many takeaways from the World Crypro Economic Forum recently in Miami...
Tron is a scam.
bcaztx
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@J_DeFranza, Glad I didn't go, apparently they are clueless.
bcaztx
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TA doesn't matter when BTC drops. Look at all the ALTS bleed except f NEO, ICX, WTC and some others. TRON will have a bounce by Jan 31 then March it will go up again.
I disagree, TRX has been bleeding out for many weeks. Whatever the reason may be, be it BTC or bearish market, the trend is a fall back to support, and until there is a clear confirmation of a reversal, it will remain bearish. Any specific date of breakout or uptrend is speculation.