I have been steady at work during this down time, training my body, mind and spirit. I hope many of you have also taken some time for yourselves, because the crypto market is ready for spring and if you want to make some good money you better be ready. This next cycle is going to be INSANE! As long as the world doesn't explode into nuclear war or aliens don't come down and enslave us I believe we will see a mass of wealth flow into the crypto space.
Anyways, I will spare you my thoughts for now. I just was going through my charts and updating things. I don't know much about TRON except it was really hyped in 2017. It just happened to be one of the first charts to catch my eye. And looking at its structure right now I can see a good area for anyone looking to get in.
Now, personally I will not be buying this coin because I have not done my due diligence. I'm posting based on what I see right now for anyone who may already be interested in buying this coin, but has no idea how to trade.
Basically, the weekly fib around .886 (250-260 sats ) provides a really strong area for a bounce. Right now price is around 300 satoshi range, the 3rd time over its lifetime and we can already see a green candle bouncing off that region. I believe that price will most likely continue to move down and break the corrective Y waves low. It will liquidate all the stop orders from the traders who tried to catch the bounce at 300 sats and drop to the .886 fib around 250-260 where it could be a nice place to enter. It could go further and touch the lower boundary of the corrective structure (purple line) and that is ok. The daily fib of the Y wave extends (-113 green fib) to that area and if you are looking for a SNIPER low risk/high reward entry you could enter around 160 sats where the fib and bottom of structure gather together. But if price continues outside of that structure downward, I would cut my losses and look into something else.
That being said, this is TRON/ BTC so in order for this to take place, Tron would be needing some huge momentum in the coming future. This is where all you fundamentalists come in.
Hope this helps anyone looking at Tron.
If this is a coin your'e interested in, watch for a reversal.
Daily- With RSI Divergence.
4 Hour - With MACD Divergence and Oversold RSI Levels