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...
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...
the cryptomarket cap for the whole market needs to improve for waves to carry on its momentum
BUT some one has been buying it against the downturn.
my guess is russians ... obviously.
needs to bounce of that line and stick with the wave
No higher highs on the price but higher highs and higher lows on the RSI. SL is placed just below the support level, with TP at the next resistance line. Big questions to ask however, as this can easily be prevented due to any surprise movements that Bitcoin may make.
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.
I think we will see some action on waves soon. Price bounced from trend line, Daily golden cross confirmed, Daily RSI moving up and MACD beginning to support movement. The price is currently pushing through the 4 hour cloud, Volume building.
WAVESBTC performs corrective action. The end of the correction is 0,0003524 level environment. Even though the ATR shaft here is waiting for a flat, faster climb. My opinion is that the flat ATR axis has the effect of re-testing the exchange rate of this axis. The result will be a flat increase. Then the steeper ATR axis effect will prevail, so the boost will be...