If we consider Wan`s movement from 3950 to 8550, first impulse wave up, from 8550 to 6650 correction, then we can expect two more waves up.
However there`s a chance of correction not being done. I have shown that possibility with yellow arrows.
Resistance levels are :
Going above each and stabilising there, will turn it to support.
Support levels are :
Going below each and stabilising there, will turn it to resistance.
Fib extension levels are :
If Wan breaks 8550 resistance, there`s a high chance we reach fib extension levels.
I will try to update the chart as frequently as possible.
Price almost reached resistance level and got rejected twice. We might get a correction. In last day a new support level (not very strong) has been built between 7120 and 6980. Let`s see if price drops to these levels, whether they can hold.
First major resistance broken on good volume. Building a healthy structure above it, will turn what used to be a resistance to a support line.
Wan has lost 7500 satoshi area, so it may turn into a resistance. If Wan doesn't break 7500 area, then a potential "head and shoulder" pattern might be in making which is a bearish sign.
Wan holders watch the price movement carefully.
If you don't have Wan, wait until a good breakout of 7500 with high volume to get involved.
to first support line. To those interested in buying Wan,
wait to see if 7500 resistance level can be broken with
Wan holders : No reason to sell while support line is kept
If interested in buying Wan : If 7500 resistance gets
broken upward with good volume, will be a good buy
Volume declining which is a good sign for bulls.
You can buy Wan with a tight 3 precent stop loss.
Make sure to put a stop loss slightly below the candles wick.
yesterday this might be a good entry with a tight stop loss.
In case this support level breaks down, next major support
is around 8544 Satoshi.
I think it is a good buy opportunity with only 1 precent stop loss.
In case support is lost since you're using stop loss you only
loose 1 percent, but if support holds and it begin going up
you will achieve high reward.
it might become a resistance in future.
Next support is 8125 satoshi level.