Caught this one at the bottom of a huge falling wedge. Entry almost couldn't of been better. Price consolidated into huge bull pennant, and has broken out on high volume, cruising through the old resistance at the consolidation high. Next target is to break through the previous flagpole high. The sky may be the limit on this one.
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...
We are on what we call of sideways movement for WRX, but the price is down-trending so, we going to put our buy orders above the sideways zone, and the target will be the next resistance line.
-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...
So there we are, I am acumulating WRX Again. this time a little bit more as BTC is pumping above ascending triangle alts could follow him. (Or he will suck all fresh money from alts ?).
Neverthless right now we reached Golden area, so Im IN. Of course consider tight stop-loss.
Enjoy the game.
-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
I have 4 positive signals I am bullish at the moment
You can buy it now and watch carefully EngineeringRobo ' s sell signal
You can sell at the resistance line ($ 0,20423) or wait for EngineeringRobo ' s sell signal