Wings DAO vs Bitcoin - Support Rejected
Wings hit the low and found the support at 3k satoshi. The uptrend followed breaking above the 200 Moving Average as well as the descending channel reaching the 16k satoshi high. Throughout the rise, price rejected the 200 Moving Average and now on the corrective move down, it has been rejected once again two times, suggesting the continuation of the uptrend.
The probability of WINGS/BTC going up remains very high, where the potential upside wave up could reach 361.8% Fibonacci retracement at 22k satoshi, that corresponds with the extended trendline of the descending channel. On a downside, break below the 6670 satoshi support could invalidate bullish outlook.
The probability of WINGS/BTC going up remains very high, where the potential upside wave up could reach 361.8% Fibonacci retracement at 22k satoshi, that corresponds with the extended trendline of the descending channel. On a downside, break below the 6670 satoshi support could invalidate bullish outlook.
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