WAVES has been trading in this channel for almost an entire year now. Generally, the longer a certain pattern has been followed, the stronger the areas of support and resistance become.
Recently, WAVES has seen a big correction towards the channel support line at the bottom. With BTC becoming more bullish at the moment, alts are following suit. In case of a prolonged BTC move we might see WAVES shoot back towards the top of the channel, a potential +100% gain.
Be aware that alts are strongly correlated to BTC, so never trade them without looking at BTC.
Looks like a symmetrical triangle on the 5m chart. Almost blast off?
financialflagship
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Nice analysis, many thanks. π₯π₯
Sobhan_23
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I like the way you analyze,simple buy accurate
jojofang0901
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possible further upside potential thx :)
leoromero12
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is it valid if you use a logarithmic chart ? a channel in a logarithmic chart ism't a real channel without the logarithmic values.. so, I think thios is not a valid channel
StevesTradingV
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Really helpful mate ;)
SignalProvider
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My technical analysis shows that you are correct!
Well done