ninjacookies
Long

WTC/BTC Big Breakout Imminent?

BINANCE:WTCBTC   Walton / Bitcoin
As we can see, Waltonchain has been building up a strong bullish divergence since July of last year.

Volume has been picking up the past few months, which indicates to me the big move may come soon.

Pay attention to the daily macd for a potential cross which should accelerate things.

Price action has respected the 50ema for over a year (purple line)...so if wtc can close above that it would be an ultra bullish signal.

This is a rather risky trade since there is basically no support at these lower levels, so place your stop losses accordingly.

First 2 profit targets are outlined in green.






Comment:

A clearer, close up view of the daily action. You can see how price has respected the 50ema (purple line). Every time it has done a temporary pump, it's gone up to kiss that line. I think there's a possibility it may do the same in the coming days if we get a strong close on tomorrow's daily.

You can clearly see an increase in volume accumulation over the past month and a half.
Comment: Looks like it jumped to touch the 21ema on the hourly then dumped. Paying attention to the daily candle close tomorrow for continuation signal.
Comment: BTC decided to pump, sending most alts in a downward spiral. Unfortunately looks like the big move may have to wait for later, but yesterday did provide a decent scalp.

Comments

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