TL;DR: A buy at 19-20 is certainly good enough. WAVES has the potential to reach at least 35.
It seems like WAVES has formed a rounding bottom here. Speculations are prone to error, but looking at the potential reward if this idea is correct, there is absolutely no reason to not enter WAVES now. Also, when WAVES was dumped hard, the A/D indicator has shown a dramatic decrease. But now, as WAVES is starting to consolidate at 19-21, as the volume has dropped significantly, A/D (and so does OBV) indicator shows that bears have virtually nothing to dump.
The yellow rectangle on the chart is the past resistance that has became support. Before rising to ATH, WAVES has dropped (increased) every time it reaches this resistance (support) zone. Now, although the price had moved below the yellow rectangle once since the rise to ATH, it has quickly retraced, indicating that this support is quite a significant one. If WAVES holds this level, there is certainly no chance for bears to continue to push the price down.
If the curve from the ATH (~65) is not a valid rounding bottom "drawing," WAVES will still reach at least 30-35. That's up to 75% profit potential, so don't miss out this trade idea. (quite slippery slope here), but if the rounding bottom price action is formed and WAVES is still bullish, expect WAVES to increase back to 50, or even higher. The higher the merrier.
It seems like WAVES has formed a rounding bottom here. Speculations are prone to error, but looking at the potential reward if this idea is correct, there is absolutely no reason to not enter WAVES now. Also, when WAVES was dumped hard, the A/D indicator has shown a dramatic decrease. But now, as WAVES is starting to consolidate at 19-21, as the volume has dropped significantly, A/D (and so does OBV) indicator shows that bears have virtually nothing to dump.
The yellow rectangle on the chart is the past resistance that has became support. Before rising to ATH, WAVES has dropped (increased) every time it reaches this resistance (support) zone. Now, although the price had moved below the yellow rectangle once since the rise to ATH, it has quickly retraced, indicating that this support is quite a significant one. If WAVES holds this level, there is certainly no chance for bears to continue to push the price down.
If the curve from the ATH (~65) is not a valid rounding bottom "drawing," WAVES will still reach at least 30-35. That's up to 75% profit potential, so don't miss out this trade idea. (quite slippery slope here), but if the rounding bottom price action is formed and WAVES is still bullish, expect WAVES to increase back to 50, or even higher. The higher the merrier.