Wabi: destined to bounce
Updated
Wabi is one of those projects that has a actual live product: placing secure anti-counterfeiting labels on consumer products mainly in China (think Chinese baby-milk powder scandal) but also planning to move more international.
Wabi had a huge run down. RSI indicator on the daily went from overbought allmost straight to oversold where we now seem to recover. Also some horizontal support might be in play here. It is to early to call the bottem in, but at the least some nice recovery (30% potentially) should be in the cards here. Traders could go long here, investors with longer time horizons might wait for the break of the upperside of the downward channel.
Wabi had a huge run down. RSI indicator on the daily went from overbought allmost straight to oversold where we now seem to recover. Also some horizontal support might be in play here. It is to early to call the bottem in, but at the least some nice recovery (30% potentially) should be in the cards here. Traders could go long here, investors with longer time horizons might wait for the break of the upperside of the downward channel.
Trade closed manually
Well that was fast.. let's sit out this alt en btc dump storm.. and look for a new entry opportunity
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