kryptoninja33
Long

WANCHAIN/Bitcoin BREAKOUT?

BINANCE:WANBTC   Wanchain / Bitcoin
On the Hourly I see Wanchain forming an ascending triangle pattern, we have also retraced to the 0.618 gib level, the golden ration,combining this with the fact we have become oversold on the daily I believe we could see a breakout soon. using fibbonacci and support and resistance I have mapped out some sell areas where, if we see a breakout, the trend could reverse to bearish . This would provide investors with possible levels to sell a percentage of their position and buy back in at a lower price to increase position size.The red bars mark high confidence sell areas, and the orange box marks an area of resistance but where I could not determine a specific sell target. Again, when we reach these sell areas, we will need to zoom in and look at price action and RSI to help determine if a retracemement will indeed occur at one of these levels or not. If this breakout fails, and we fall lower, I will not be selling but instead adding more to my position, however I do not see this as likely.
Comment: *Fib Level, not Gib Level hahaha
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