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Ok, still unwary situation with bitcoin price but I'm gonna assume that we don't crash from here and just go sideways. The reason why I'm pointing this out is that Bitcoins price movements affects mostly all alt coins. Many of the alt coins I've analysed recently are in a correction phase and should go a little lower before shooting up. So I wouldn't be surprised if Bitcoin would tank a little.
Now, let's talk about TRON, a favourite by many of my followers. I'm not gonna get into the fundamentals of the coin here. Just gonna bring some value by showing my prediction on price path and where we're at. Here's three subjects I wanna point that explains my reasoning behind this analysis.
We've finished a 3-3-5 correction that went as deep as 80%. Pretty normal when we have an extended 5th impulse wave. I believe we've started a 5 wave impulse and we're currently on the 2nd wave which is a correction phase. We should be done here soon and head up through the 3rd wave.
The correction has created a descending bullish triangle and we're pretty much out of sellers now, which would mean a big price jump.
We don't know if this 2nd wave will go lower. Usually we should look at a correction of 50% but it could go lower than that so I would set pretty wide buy orders.
A second scenario which is a little bearish short term. Since the previous 5 impulse waves ended with an extended 5th, there's some merit to a longer correction. It's my secondary count which means that it's a scenario I have in mind but not the most probable right now. Please check picture three.
Investment summary:
⭐⭐⭐⭐ 4 out of 5 stars on this investment
🚀 Short Term Target at 0.00002046 BTC
💲 Potential profit 182%!
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Bigger picture:
Longer correction scenario:
Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.
