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Resolute
Jul 14, 2020 10:03 AM

WAN chart looks Biblical  Long

Wanchain / BitcoinBinance

Description

SUPERLONG on WAN. Still riding my bag from April and will be adding more if it dips.

Final stages of accumulation.

- Bullish RSI divergence on weekly chart;
- Downtrend breakout looming;
- Textbook Wyckoff accumulation pattern;
- Extensive list of upcoming FA news & annoucements (check Twitter & CoinMarketCal for details)

1st target - 6k sats;
2nd target - 13k sats;


Trade active

Added more at in 231 - 234 area.
Comments
cryptomania81
Hello,

Can we still see a pullback short term? thank you in advance.
Resolute
@cryptomania81, I have no doubt there will be a pullback on multiple Alts short term - mainly due to BTC price action - giant pennant that needs to break eventually. So BTC volatility = Alts dump, in general. And it looks like it's already happening. That being said, I see it as an additional opportunity, not a threat and will be adding more to my bag if that happens.
WAN spent a year in accumulation range, and is now showing clear signs of leaving it on all large TFs, so I don't really see the need to daytrade it.
cryptomania81
@Resolute,

Appreciate your thorough explanation, i share your sentiment and see a bright future for the wanchain project.
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