Description
⋅ 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.