Hi dear friends, hope you are well and welcome to the new trade setup of WAX (WAXP) coin with BTC pair.
On a 2 hr time frame, WAXP has formed a bearish Shark pattern
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
WAXP/BTC possibly creating a double bottom on the weekly rejecting again from the 0.618 fib level which is acts as very strong resistance in confluence with multiple previous daily resistance now turned support.
Fundamentals are extremely bullish as well with WAXP being the most used blockchain in the world and the massive NFT and METAVERSE partnerships etc the...
It was impossible to follow the graphic I shared earlier due to the tag error I made.
I think the product has a long way to go. It will become stronger with new agreements and price mobility will increase.
We can see this test on chart - on multiple time frames this is bullish
Changes of reversal are over 50% from here (cca 70%)
May pullback again before major recovery (we can see a double top - smaller time frames)
WAX is a carbon neutral blockchain that runs on a Proof of Stake system. Meaning, we don’t need supercomputers to wage an energy-sucking...
I have never seen a formation like this !
But this is a thing of beauty.
The recent downturn just led to a massive price decline and WAXP just successfully back tested the second green bull flag before turning up decisevely !!
I wish I had not sold so early since I am left out and price runs away from me.
However I could not resist making a short post after...
wow. wax doesn't like to go up from that level.
May be it would like to come to this 50% Fibo Zone.
Investors and people who sink money into this ventures
are very cautious people, we have to observe them very carefuly.
Here we have the different important support and resistance levels for the WAXPBTC pair.
The tendency is now bullish and prices are aiming higher.
Over 100% of potential profits mapped.
Thanks a lot for your continued support.