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GladeArchJoe
Jul 13, 2018 12:29 AM

WTC/BTC Huge Descending Wedge Long

Description

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 (reddit.com/r/waltonchain/comments/8nrpq6/waltonchain_allinone_thread/), but I would wait for BTC to break down to set a lower low to begin to accumulate.
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