WTC / BTC Falling Wedge. Potential from + 160% to + 830%
Updated
WTC / BTC WTC (Waltonchain) Downward wedge. The price is already in the corner. Volatility decreased, volume entered. Coming soon.
ENTRANCE
On a breakout of a pattern, or rollback after a breakthrough, depending on your trading strategy.
Stop loss
Under key support levels during your entry into the market.
Do not forget to move Stop Loss during the price increase, but take into account the volatility of the coin.
TARGET
If the descending wedge is broken up and a trend reversal occurs, the potential for the full development of this figure is from + 160% to + 830%.
It must be understood that after a wedge resistance breakthrough, the price may not immediately go into an uptrend, but into lateral movement, thereby forming an accumulation channel, as a rule, they have a step of 30-50%. But a miracle V reverse reversal may occur and immediately into an upward trend movement (less likely scenario).
ENTRANCE
On a breakout of a pattern, or rollback after a breakthrough, depending on your trading strategy.
Stop loss
Under key support levels during your entry into the market.
Do not forget to move Stop Loss during the price increase, but take into account the volatility of the coin.
TARGET
If the descending wedge is broken up and a trend reversal occurs, the potential for the full development of this figure is from + 160% to + 830%.
It must be understood that after a wedge resistance breakthrough, the price may not immediately go into an uptrend, but into lateral movement, thereby forming an accumulation channel, as a rule, they have a step of 30-50%. But a miracle V reverse reversal may occur and immediately into an upward trend movement (less likely scenario).
Note
There is a breakdown of the downtrend wedge. Now rollback after the breakdown.
Note
Movement after breaking a downtrend wedge
1) + 27%
2) + 41%
Trade closed: target reached
Note
Note
The line of the local uptrend has been broken. The price has returned back to the purchase area.
Note
Waltonchain ( WTC ) In the shopping area. If the price holds this support, which, after breaking down the wedge , acted as a launching pad for local pumps, then we are waiting for the formation of a reversal pattern of the main trend - a double bottom.
Note
Descending triangle. Soon there will be a denouement.
Note
Support has been broken. There was no good entry point to the market.Note
Note
+41%
✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.