Hi all,
I would like to share my new view on WLD for those who are interested in this crypto. By the way, if you have any fundamental news, don't hesitate to share in comments.
In general, WLD has been moving in a descending channel. Although prices are trying to break the upper (resistance) trendline, in my opinion the bottom had not been confirmed. We still have a long way to go before the halving and the start of a new bullrun.
At this point, I see two possibilities as depicted in chart. My preference one is (2).
What is your view on this crypto?
Comment:
Correction: My preference one is (1): Prices go down again to the support (lower) trendline.
Comment:
Breakout of the channel seems to happen. However, it lacks of volume.
I'd wait for the today's candle to close to see what will come next.
I'd wait for the today's candle to close to see what will come next.
Comment:
The resistance trendline was broken and the breakout of the daily resistance level is on going. Still volume is not imprressive but scenario (2) would happen with higher probability than scenario (1). It is possible that prices will be consolidating above the daily support before a real take-off.
A fake-out scenario is not excluded so LONG set-up with SL is needed.
A fake-out scenario is not excluded so LONG set-up with SL is needed.
Comment:
In my opinion, WLD has lost its momentum to go up. I'll update my new analysis but it would be not a good point to Long. The local trendline was broken and the retest seems to be on-going.
Trade closed manually
Comment:
Update my Short (mentionned in comment on 30th September)