Large wicks to the downside happen often on exchanges as the whales decide to go hunting for stop sells and devouring them back up immediately. Large wicks down can be a precursor to large moves in either direction in the short term thereafter. This is indicative of whale accumulation in preparation for the move. The price of waves usdt should either trickle down towards the bottom of the wick (bearish case) or the price will soon be exploding to the upside. This is probably dependent on what btc does against usd in the near term as the price is correlated to BTC. The WavesBTC chart should provide clues as to where waves will be moving from here. The chart is still searching for a low against btc to be set. Big bullish volume should confirm the bottom. My biased is towards the upside based on the data and indicators in the chart.
