WRX/BTC dropped to very important area
( green area 700-650 sat )
This area Wrx pumped from it before more than 300%
Also price is forming falling wedge which is also bullish
However all the above isn't enough for make buy desision
We want the bull to save the green area well
And best buy area will be after break trendline resistance
This is not...
-WRX has been trading inside a long descending channel
-It started last March blow-off top at 2500 sat
-Since then, only a series of Lower Highs and Lower Lows
-This is Bearish in terms of price action
-The good side though is we have a Bullish RSI divergence
-Which is a sign of weakness of selling pressure
-Also, WRX is now trading at previous...
-After the recent relief pump last August 13
-The price today is back at previous trading zone
-It is likely to retest the swing Low at around 1015 sat range
-If we can see any Bullish reaction in the key support area
-The chances of bounce back up to 1435 will increase
-While a Bearish close below the green support line
-Will retest the next support at...
-The price is now back at previous support area
-WRX must hold the current market price
-This is confluence of previous resistance turns support
-If WRX can maintain this level for the next few weeks
-Chances of breaking the trendline resistance will increase
-The upside scenario is up to 2100-2600 sat range
Take profit: 0.00002
Stop loss: 0.00001210
WRX is gonne make a pull back from its boost, thats why i will look for this entree to go again with the next boost.
WRX went through the bearish wedge on the daily time frame, this looks like a good bullish set up.
Have a good day.
-Since the break of the key support area
-The price drop almost -20% below
-Its new temporary bottom is set at 1042 sat
-If WRX unable to break the downward trendline
-it is likely to retest the recent Low
-And potentially form a double bottom reversal
-Aggressive Buyers are waiting for a retest
-While breakout Traders are awaiting the trendline...
-Broke key daily support at 1264 sat area
-There is no logical support until 900 sat range
-This is looking bearish in the midterm action
-I recommend not to catch a fallen knife during the fresh breakdown
-Wait for the price to consolidate at key areas
-Look for any Bullish signs that the market will reverse
-Avoid trading using High leverage
#WRXBTC look bullish to me
Down Trendline Broken and its at 0.702 fib again price is eager to go up now..
Price at this moment 0.00001476
I will be buying between 0.00001380-1450
Target are on chart!
Stoplos incase failed rally 1190
#WRX once again flipped above the crucial resistance and feel really comfortable here. The main target id double top in the 1700 - 1750 sats area.
I open a long here and place one more buy order inside the blue box.
WRX has made waves ever since it was listed on Binance. We are now moving inside a pennant but if the price breaks down from it, we may have a good knife catching opportunity at the blue line. I will be setting buy orders there. Good Luck!