WAVESUSDT retraced as expected from my previous analysis.
Price retested the flip horizontal support + 0.618 fibonacci retracement.
Price brokeout above the pullback descending trendline resistance.
We could see an uptrend continuation.
Targets 🎯 - previous swing high ( ATH ), fibonacci extension levels.
Setup invalidation ❌ - breakdown below the previous swing...
WAVESUSDT is printing a rising wedge pattern on the daily timeframe.
RSI is printing a bearish divergence signal.
Sell entry ⬇️ - breakdown below the rising wedge support
Target 🎯 - Support levels
Setup invalidation ❌ - breakout above the rising wedge resistance
Lower lows, beginning of impulse wave identified. Does not look like a corrective pattern. NFA.
I have identified nice point on the Fib Extension, Invalidation level in red as always.
Anyways, I am longing this one once again.
I will be following this space closely.
. Waves/US 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 68.
. There is a possibility of temporary retracement to suggested support zone (0.7760 to 0.5160). if so, traders can set orders based on Price Action...
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...