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So now straight to the point. In this analysis i used Fibo levels for target as well as for StopLoss and WRX is generating high volumes which is good.
This setup offers us 1:2 Risk to Reward ratio.
If this idea seems good or matched your...
WRX/BTC
WRX is starting to trade outside the small trendline resistance at the 1984 sats area. If this price action continues,
we could expect a real breakout within 24-48 hours and new support will be established in 1860 sats area.
Our stop-loss will be below 50MA and upside target up to 2650 sats.
Top of Regression Trend channel - possible break up and out.
Wider market influences are in place - I'm expecting markets to fall which might limit WRX's chances from here?
Fib to be considered.
Best, Hard Forky
WRXBTC is forming an ascending channel, after reaching the bottom, reversal happened and WRX is on the way of the top of the channel.
Fibonacci levels are strong support and resistance levels as shown on the chart. if WRX breaks the 0.23 level on the 2100 area then the next target would be 2600. if-else WRX will come back to the bottom of the channel in the 1700...
WRXBTC is forming a symmetrical Triangle. Price is on the lower side and tends to go to the upper side when it reaches the upper side wait for a breakout or retracement.
Buying Price:1500
Targets:1540-1600
Stop:1470
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WRX/BTC
WRX is on a critical stage with this bearish descending triangle pattern which by technicals usually breaks to the downside.
Both 50 & 100 MA on the 4H time-frame are acting as immediate resistance zone during every minor pullback.
If WRX is unable to break this pattern to the upside within 24-48 hours.
The priority will be bearish and the target below...
BTC is consolidating and Alts are pumping.
WRX looks quite good, sitting at fib .618 support and also supported by 200MA.
Buying it with a stop loss of 5% in case BTC drops or rises.
