BINANCE:WTCBTC   Walton / Bitcoin
The breakout of the wedge didn't work. Still crawling below the resistance line. A previous (global) support is a very tempting level to bounce off from. The reversal at that price is too obvious to believe in, but often the simplest way of price evolution is the most possible.

Not a financial advice.
I have quite same opinion. It should bounce up very soon. We can see a giant W. However, if it goes down, resistance will be at 4000 sat. If it goes up, we should have target 1 @ 5300. t2@5700, t3@6170, t4@6666, t5@7966,t6@9000,t7@10000. Those are the big game targets.

But i think WTC need a major miracle to pump up like that. Nothing is going on with this coin and there much better ones out there with immediate profits. :(
biggriz biggriz
@biggriz, PS: I like to argue with myself ;)
@biggriz, TBH, I wouldn't relay too much on any specific layers of resistance/support, but yeah, W-shape pattern is rather possible. Cannot say that WTC doesn't do anything in the fundamental point of view though ;)
biggriz Crypto-Hamster
@Crypto-Hamster, I guess you are right for a long stand point of view. I was coming from resistance lines and target lines from stock analytical point of view. Judging as a pumper and profit seeker to have some sort of points when to sell and when to buy.
However, from project stand point I do like the idea of tiny RFID chips on not hackable self checking block chain. The uses are multiple and great.
However, as sane business person, I understand that just having a great idea, then product, ways of creating it isn't a total success. It's a sales game after the fact, were marketing, social networking ( just personal connections ), negotiations, fan support, leadership and far sight of future play major role. For example Coca Cola corporation spend 50% of net yearly profits for advertising. Company that every one knows.
Looking at WTC, internet based corporation, with such lack of information and promotions will have issues into gaining market share. Try searching something about WTC. Most of the stuff in Chinese if lucky. And try searching for Tron in any language on any search engine, marketing wise comparison.
And idea comparison AMB and MDA ( or MOD I forgot ), but both do same RFID chips.

I hope they will utilize their ability to promote them self globally to gain favoritism, followers and worthy contracts ( not partnerships ), to put their tech into work. First they gonna make it, then they gonna sell it somehow. It's gonna worth a dime if it not used as it suppose to be.

My after work tiring rumbling. I hope all goes well tho. I do own WTC, and many other coins as a hodler. But i do trade daily as well with free cash to make up for losses during bear cycle.

@biggriz, What I meant about the support/resistance levels is that one may use them as the targets to fix partial profits or stop orders, but these days in crypto we usually don't have a reasonable level of confidence for the bouncing off of those, so it is not like we could catch the best trading deal with seeking for those levels.

I would agree with you on a fundamental basis standpoint, of course. I would just add that if the project has some value, on a certain stage they may not necessarily need to rise a really massive marketing and advertisement wave, as soon as they don't need anymore funding for a while. And when they will reach the certain level of success they could enjoy the money, fighting for their attention. And Walton is very promising technology, so I am positive on that! Will see, my friend!
And thank you for the comments!
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