imfamousrajat

WANCHAIN - IS IT STILL ALIVE? OR HEADING TOWARDS GRAVE?

BINANCE:WANBTC   Wanchain / Bitcoin
WAN has been in the continuous long term downtrend since May starting and the price has depreciated by almost 87%.
It has been moving inside the falling wedge for quite some time now.

The price has been continuously getting rejected from the basis line of the Bollinger bands .
The price action is so weak that it is not even able to cross through EMA (12). (See the circles marked with Pink colour)
Now the price is at the lower boundary of the wedge from where it should try to move towards the basis line
of the Bollinger bands or atleast till the EMA (12)

If it does't rebound from here, it should fall to 1200-ish satoshi range. Alternatively, we the price is able to push a little bit up, it can reach upto 2k satoshi easily. In any case, we are possibly near to bottom. Get ready to open up some positions!

I'll keep updating this, as and when required.

P.S: This is not an investment advice. This is my personal journal. Invest your capital at your own risk.

Keep an eye out. Trade safely. Always remember, money not lost is also a profit.

Good luck trading.!
Peace.

Comments

even though the wan has a better version but the marketing is bad ... lots of nano sellers and waves enter the telegraph chat ... many traders sell all their assets and buy nano and waves including me ... wkwk
Reply
Its bouncing nice today, even some other alts sre going up, eth also... do you think its good to go long with wan?
Reply
@rolo18, Well, it may be too early to go long. If i were in your position, i would wait on the sideline for more conviction. just be patient for a bit more time man, you surely will have a good time to open positions.
Reply
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