alanmasters
Short

Walton Is Getting Ready To Retrace (Support Levels)

BINANCE:WTCBTC   Walton / Bitcoin
I am looking at Walton ( WTCBTC ) on Binance and it seems to have formed a double top , multiple signals are pointing to an upcoming retrace...

Feel free to hit like if you want to now, and we can take a closer look at those signals... Thanks a lot for the support.

  • After reaching EMA300 (gray line) on the 2nd April, WTCBTC quickly retraced. A second try at this level happened yesterday, marking our double top .
  • We can notice a decrease in volume on the second attempt to break EMA300.
  • The second high was lower than the first one.
  • The MACD is also lower and the histogram shows less bullish action.
  • The RSI is clearly going lower:

These signals are pointing to a retrace for Walton ( WTCBTC ). I am looking at EMA200 (orange line) and EMA50 (magenta) line as mine support.

Conditions for change: A break and close above the last high with good strength and volume would invalidate the above signals.

Thanks a lot for reading.
Your time and support are truly appreciated.

Namaste.
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