WOO - not ready for move up yetWOO broke support range and there is no signal for reversal yet. We are oversold, but have no bullish divergence forming. We might get some local bounce up but I believe we still need to hit fibb 1.618 extension and from there we can start forming bigger move which will test the range we lost, form higher low and then test diagonal resistance line. Only when we see bottom in - double zigzag correction done can we start thinking about higher targets.
WOOUSD trade ideas
Woo, looking good.Not too much to add here. The break out occured from the Wyckoff box and is currently holding.
Looking back at the price action WOO likes to make big moves and then give most of it back only to push up higher.. that has been the trend thus far. I have no reason other than BTC pulling back hard that this pattern will not continue.
My price targets are still in play 0.64c - 0.69c.
I updated the info boxes and cleaned up the chart a bit.
Thank you kindly to all the new subs and support.
Smart trading everyone and keep those profits safe.
WOO, what the chart is showing.This pattern and chart look very promising to me. As I work this chart idea WOO is breaking out on the 1day chart. If this can close and hold I am confident in this analysis.
WOO is riding on top of all the SMA's and that is good.
The up target will be in the golden pocket so that is great news. Algorithms and traders like that psychological area.
If it fails I think it should just stay in the Wyckoff accumulation and distribution zone.
* A pattern with the inverted head and shoulders is a problem and could target all the way back to the 0.30 to 0.25c range.
Keep in mind BTC can always drive the price down.
Good luck and I hope this helps.
WOOUSD: Approaching the top of the Channel Up.WOO Network is overbought on the 1D technical outlook (RSI = 76.798, MACD = 0.020, ADX = 44.031) as it is almost at the top of the 17 month Channel Up. At least for the short term, this is an excellent level to short and target the HL trendline (TP = 0.25000). The previous two top rejections have hit at lest the S1 level.
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Another drop analysisFrom Elliot's rules, we find that the price made three historical downward waves, then corrected in three other waves, and it is expected to decline in five large waves in order to end the historical decline of the currency
Head and shouldersIt is clear that a head, right shoulder and left shoulder have been formed and are ready to break down, so please secure your deals .. Good luck
โด๏ธ WOO Network Name Your Altcoin Chart AnalysisThis is an easy one and a very strong chart at the same time.
Last year WOOUSD produced a double bottom, June & November 2022 hit the same low at 0.10.
In 2023 we have a similar pattern with the last two corrections, March & June both produced a Doji to close the session.
This Doji is a reversal signal.
Now that this week is full green, confirmation is in for the bulls.
The RSI above 50 on the weekly timeframe is super strong.
Can easily grow from now on.
That's WOO Network for you.
Namaste.
WOOUSD on a strong long term riseWOOUSD is trading inside a Channel Up since the November 22nd 2022 bottom.
The price is right now under the MA50 (1d), which technically indicates a bearish momentum.
Trading Plan:
1. Buy if the price closes a (1d) candle over the MA50 (1d).
2. Buy if it hits the MA200 (1d) first near the bottom of the Channel Up.
Targets:
1. and 2. The top of the Channel Up at 0.44000.
Tips:
1. RSI (1d) is on a similar level where the bottoms of December 19th 2022 and March 9th 2023 were formed. This may be an indicator that we are at the new bottom or close to it.
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WOOUSD On a Channel Up targeting 0.5300 long-term.WOO Network (WOOUSD) is on a 4 straight day rise since holding the 1D MA50 (blue trend-line), maintaining the bullish trend within the long-term Channel Up pattern. The 1D MA200 (orange trend-line) is now exactly on the Channel's bottom, having supported the price on March 10, kickstarting the current bullish leg we're in.
We are short-term bullish targeting 0.3800 (just below Resistance 1) as a new Higher High. On the long-term we are willing to buy only after a new pull-back and target 0.5300 (just below Resistance 2).
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WOOUSD AnalysisDear Friends
The Dow theory HH and HL indicate continuing the bullish trend and the harmonic pattern AB=CD indicates starting the reversal point towards continuing the bearish trend.
What do say guys where will it move??