Why Wanchain is one of the best buys now and alts in general Hello people,
Good day. BTC breakout upwards, fine. Altcoins seemingly bouncing after capitulation, grazi grazi.
As already explained in the BTC post on TradingView, I'm assuming that the G20 event is going to trigger another run on the fields for the altcoins and the whole crypto market. Why? We've seen a huge run up with the futures earlier (BTC 20k). The scenario is called: buy the rumour, sell the news. Currently we see a huge dump going in to a significant big event for the market (and a small dump after): sell the rumor, buy the news.
Also, Wanchain is one of the most depressing holds I've seen lately, so I'd say: that's a buy and I'd like to describe why I feel that way. And released some good news yesterday.
TA point of view: falling wedge principle, sideways movements and potential bottom is found here.
Indicators:
WAN/USD:
1 Day: Strong bullish divergences on RSI, Stoch, MACD and histogram.
2 Days: Very strong on the 2 days as well.
3 Days: Same on the Stoch and RSI. MACD and Histo doesn't have that much data yet.
4 Days: Even on this timeframe on Stoch and RSI.
5 Days: Also on Stoch.
1 Week: Not much data to conclude something here.
WAN/BTC:
1 Day, 2 Day and 3 Days on WAN/BTC are the same with the bullish divergences and a capitulation wick downwards.
1 Week: Not much data to conclude something here.
Concluding for here I'm assuming that the whole market will experience upwards momentum as both the USD and BTC pair are screaming for a buy.
First target for me: $3,70 zone. Normally then small retrace and afterwards to $5, but have to see in a few weeks and then I'll update.
