GladeArchJoe

WTC/BTC Huge Descending Wedge

Long
BINANCE:WTCBTC   None
Huge descending wedge on the WTC/BTC 1D. Looks like convergence will be around early August. Just in time for the $BTC ETF? Setting some buy orders around 92k sats and having a tight mental stop if it is a counter-to-anticipated breakout. However, the chart is somewhat bearish. The Tenkan sen is pretty far from the Kijun sen which suggests we are decently oversold. We are trading well below the Kumo and although the MACD flipped, it is still below the signal line. If you are an investor now is a good time, with all the great June news that was released (www.reddit.com/r/wal...ain_allinone_thread/), but I would wait for BTC to break down to set a lower low to begin to accumulate.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.