bowtrix

Ram, Ram, Break!

Short
BINANCE:WAVESUSDT   Waves / TetherUS
Hello friends. We have made a fun analysis of the Waves Scam Coin. If you are not aware, this is a token heading slowly towards zero due to it's algorithmic stablecoin being perpetually off-peg. The only reason it currently isn't zero is because the founder of this project took on an ungodly amount of debt to buy back his tokens and try to save his sinking ship. We think this won't be enough, and will only be a temporary fix for the Waves Ponzi.

This analysis is based of the fact that every time prices tap a key level, it becomes weaker. We put 3 hearts here to demonstrate that each time it is tapped, some of the buy limit orders fill, and one of the hearts goes away. Just like in the video games, when all your hearts are gone, you die. The support is expected to die next time the market rams it. Another thing to notice is that each time prices have tapped the support, the following bounce has been lower and lower. This makes it even more likely that prices will break through the support.

We added on a bit of an EWT forecast, but bear in mind that Scam Coins don't tend to follow the wave theory very well most of the time.

Thanks for playing.

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