6900 SATS - Make Or Break

BINANCE:WAVESBTC   Waves / Bitcoin
$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.


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