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AlanSantana
Apr 21, 2020 9:14 PM

WazirX Closes Below EMA10, Time For Retrace Short

Description

WazirX (WRXBTC) just printed a lower high with prices closing daily below EMA10, these signals can point to an upcoming retrace.

On the chart above, I've drawn a "trendline" which can work as resistance on the way up.

If prices move up, WRXBTC needs to break this trendline in order to continue higher.

Now the tendency is lower, if prices for WRXBTC remain below this trendline, we will see a drop that will likely hit the 0.618 or 0.786 Fib. retracement support, these levels are marked on the chart.

I hope that helps.

This is not financial advice.

Namaste.
Comments
dogalkozmatik
update pls TA
AlanSantana
@dogalkozmatik, Same analysis still valid.
Cryptorphic
Nice work as always
Read mine here, Elaborated with Entry targets.
Response will be appreciated :)
aj7786
Good work sir
AlanSantana
@aj7786, Thanks.
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