So, many individuals have asked me to assess Waltonchain’s price action over the last few days due to increasing interest in the chain and its idea.
For this price analysis, we’re going to look at the WTC/BTC pairing, specifically.
Over the last 7 days, in particular, the price for WTC has been getting throttled:
As one can see above, Waltonchain has been seriously shedding against Bitcoin over the past few periods on the H4.
Now, when we draw our connecting trendline going upward, we can see there’s an opportunity for a potential bounce coming up.
What Bounce?
Check it out:
Here’s what could happen if the ‘bounce’ fulfills itself against that trendline:
ZN Reversion Ribbon V2
Based on what can be seen above, a entry position (on a long), does not appear advisable until we can see convergence on the Zerononcense Reversion Ribbon V2 (i.e., the Histogram reflecting bars of decreasing length over time.
Bounce Could Potentially Provide Righteous Gains
Conclusion
Here’s the anticipated price action for the WTC/BTC pairing :