Trust Wallet Token has gone bullish on the weekly timeframe, which signals that a bullish wave is upon us. The pair already produced a long-term bottom pattern in 2023 followed by a bullish breakout.
➖ Currently, TWTUSDT is trading above EMA10/21, EMA50 and EMA100. ➖ The RSI sits at 55 and bull volume is predominant. All these signals are clearly bullish.
Now let's consider Trust Wallet Token relation to Bitcoin.
This pair moves partially inverse to Bitcoin.
➖ For example, between June and November 2022 TWTUSDT produced a very strong bullish wave. In this same period Bitcoin produced a multi-year low and the 2022 bear market bottom.
➖ From December 2022 through June 2023 TWTUSDT produced a strong bearish wave, at this time Bitcoin was growing nicely.
➖ Even recently the inverse relation continues to happen... TWTUSDT peaked early November 2022 and hit a low January 2024, a small retrace. At this same time Bitcoin produced one final leg up.
Now we are seeing TWTUSDT full-green on the weekly timeframe and Bitcoin as well but facing resistance... If the inverse relation pattern repeats, TWTUSDT will move up while Bitcoin moves down.
Apart from this relation, Trust Wallet Token looks strongly bullish. Additional confirmation comes when the weekly session closes in 14 hours. Closing at 1.1981 or higher would send out a strong bullish signal for this pair.
I do totally agree with you! Thanks for the analysis.
ruweshed
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Man its bearish to bitcoin
MyCryptoParadise_Nathan
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The anticipation of TWT moving up while Bitcoin faces resistance based on this inverse relationship pattern is an interesting observation.
armadora
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Can you also analyse Wecan Group's new token Wecan if you have time? I have just checked their white paper and read about their accomplishments. They seem to be very promising. But, it would be nice to get an analysis from an expert like you. Thanks in advance.
AlanSantana
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@armadora, If the token is new it cannot be analyzed, data is needed for the analysis. 6-12 Months of data at least.