Waltonchain is a chart to watch over the next few days as we approach important resistance.
EMA's are acting as support on this uptrend and we've seen a bullish cross of the 12 and 26 day. Increasing volume. RSI is approaching oversold but if we pull back in the next couple of days before challenging that upper range resistance level it will likely bring it back...
WTC has broken the downtrend line that has been pushing the price down for over a year
Volume is showing massive accumulation at current levels
Set up is very clear with stop loss and huge reward
You can also see my the WTCUSD chart i posted forthcoming this accumulation
Be safe
WTC formed a nice inverse head & shoulders pattern with increasing buy volume.
Waiting for a neckline break to confirm.
Buy & sell positions in our crypto signal scanner (comment).
Technical analysis:
. WALTON/DOLLAR is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 54.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of...
WaltonChain today has reached strong support at $4.7, which is confirmed by two Fibonacci retracement levels. First is the 38.2% Fibs applied to the uptrend trendline breakout point. Second is the 127.2% Fibs applied to the last corrective wave up.
The $4-$4.7 area could be the turning point for the WTC/USD, yet its too early to say that with confidence. Further...
Waltonchain broke the 4hr equilibrium and is now facing it's next resistance not much higher than that equilibrium at $6.35-6.40. A break in that resistance will result in a target in the high $7's along the trend line resistance visible on the daily time frame. The trend line and the daily chart resistance at $8.00 should be noted as strong resistance levels....
Technical analysis:
. WALTONCHAIN/DOLLAR is in a range bound and the resumption of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 49.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the beginning of uptrend is increased.
Trading suggestion:
. We have...
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