Wanchain (WANBTC) is looking just like Walton (WTC) when it comes to the charts. A huge retrace followed by some really strong bullish action.
Now, we've seen failed breakout (fakeouts) attempts in the past (marked with a yellow square on the chart), these only lasted a few days and had no volume to back them up. Volume is now backing us yet we still need a little bit more time before we have a full reversal confirmation. But too many signals are telling us that this might be it... Let's take a look at those.
First the daily chart:
Charts, signals and indicators
- Broke and close above EMA10 (blue line). Today's candle is really strong with good volume. - Wanchain has been going down since May and finally stopped when we broke the downtrend channel a few days back, which is marked red on the chart. - You can easily spot the bullish divergence on the MACD (first indicator below the main chart). - You can easily see how the RSI and STOCH (last two indicators respectively) are trending up. The RSI bounced from oversold and is now sitting at 48, it needs more but this level hasn't been touched since early May.
The weekly chart:
- The weekly chart is also very telling. Self explanatory by the way. - Notice the volume. Only when WANBTC was going up we had the volume we are seeing now on the weekly time frame. - Not enough data for our indicators, but they are sitting at the bottom and showing plenty of room available for growth. - Now, let's move on...
Wanchain (WAN) upcoming events
31 December 2018 (or earlier) Wanchain 3.0. Wanchain 3.0 - Integration with Bitcoin, Multi-Coin Wallet.
Buy low... PATIENCE... and later sell on target... That's the trick.
Stop loss: Close below 0.00012 on the weekly time frame/candle closes this trade at a loss. When we start to hit our targets, you can ignore the stop loss.
THE WINDS OF CHANGE ARE COMING
How has change treated you lately?
Have you been a friend of change?
Change is always present... It can be hard to change but change is good. When it comes knocking at your door, it isn't asking for permission, it is coming in regardless... What will you do?
Will you lock the door and run away?
Will you face the change with fear and cry thinking everything is going to end?
Will you open the door and say, "Hey, I am ready for the change!".
Yes, that's my answer, because CHANGE IS ALREADY ON ITS WAY!
Namaste.
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Consolidation happening for WANBTC, not much retrace thus far... This one needs time. See the chart here (4H TF):
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WANBTC is going for additional growth and looking to have its biggest volume day... This is a bullish signal.
Breaking above several resistance points on the 4h TF:
Here is the daily chart (you can see the volume bars at the bottom):
- RSI and MACD showing plenty of room left available for growth.