This pattern and chart look very promising to me. As I work this chart idea WOO is breaking out on the 1day chart. If this can close and hold I am confident in this analysis.
WOO is riding on top of all the SMA's and that is good.
The up target will be in the golden pocket so that is great news. Algorithms and traders like that psychological area.
If it fails I think it should just stay in the Wyckoff accumulation and distribution zone.
* A pattern with the inverted head and shoulders is a problem and could target all the way back to the 0.30 to 0.25c range.
Keep in mind BTC can always drive the price down.
Good luck and I hope this helps.
WOO is riding on top of all the SMA's and that is good.
The up target will be in the golden pocket so that is great news. Algorithms and traders like that psychological area.
If it fails I think it should just stay in the Wyckoff accumulation and distribution zone.
* A pattern with the inverted head and shoulders is a problem and could target all the way back to the 0.30 to 0.25c range.
Keep in mind BTC can always drive the price down.
Good luck and I hope this helps.
Woo broke out nice and clean pushed up briefly into that golden pocket only to get turned away.
Woo stayed up with a higher high and maintains it at the time of updating.
I am looking for this to continue up and then make some sort of shape to see what the next step is.
always watch BTC but it seems WOO has a bit of independence of action. This can be very good but adds a bit of unpredictability if it falls out of a pattern or technical analysis.
Keep the stops active and take profits, stay vigilant.