Monfex is at your service and today we overview WAVES/BTC.
WAVES one of the losers these days, but we remember that marketmakers stand by this coin and at this chart we see the descending channel and the price is going to the bottom line. Also we see it's a bullish divergence by RSI and we can suppose that near the previous low will be rebound to...
The 2 months long bearish triangle is coming to an end, so the price must take the decision of where to go. Personally I think the most likely way is to the downside, because WAVES went in a bubble and very likely it did not find the bottom yet.
The next levels of price to watch for a likely bounce are 60k, 50k and 40k satoshis. Those levels have been important...
Waves also has an interesting trade set up - this trade is also backed by the coins fundamentals. It is platform coin season and Waves is one of the undervalued platform coins. With long term resistance being broken, it looks like Waves has been accumulating for a move.