$WAVES has been quite the performer this year. 6900-7000 sats
has proven to be strong support. I entered a position at 6988 satoshis. I received a lot of criticism for buying $WAVES while it was tittering on support. In my eyes, the R/R was so optimal and had so much upside potential with such a minimal downside risk that it was clear as day. I took out a large position at 6988 with an invalidation point (stop loss) around 6925. This is one of the few alts I am holding as I just sold off my $BNB and am hedging my BTC
stack with some $TUSD and some margin shorts.
If we break down past 6900 sats
and hold, WAVES is going to drop like a rock; full on nose dive.
$WAVES has a ton of catalysts coming up and could easily break upwards if volumes comes in. Note that we have been getting rejected as resistance just about every time we've made a run for it. So tread carefully
Note: I am not a financial advisor, this chart is meant for educational use only.