Short
WAVES/USDT - Potential Short Setup
Hello Traders!
The downward price formation of WAVES continues its development within the framework of the falling phase.
Currently, the price is near the support level of $4.35. Taking into account the local dynamics of Bitcoin, it is possible to assume the exit of the price to the resistance level of $8.20 with the purpose of liquidity collection.
Based on the analysis of senior timeframes, it can be assumed that the decline phase is not over yet. The culmination of the downside pricing will be the price exit into the range of $2.00 - $3.10 after the breakdown of the support level of $4.35.
It is possible to look for medium-term purchases near the support level of $2.00 in the price range of $2.00 - $3.10.
The targets will be price levels of $5.85 and $8.20
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
The downward price formation of WAVES continues its development within the framework of the falling phase.
Currently, the price is near the support level of $4.35. Taking into account the local dynamics of Bitcoin, it is possible to assume the exit of the price to the resistance level of $8.20 with the purpose of liquidity collection.
Based on the analysis of senior timeframes, it can be assumed that the decline phase is not over yet. The culmination of the downside pricing will be the price exit into the range of $2.00 - $3.10 after the breakdown of the support level of $4.35.
It is possible to look for medium-term purchases near the support level of $2.00 in the price range of $2.00 - $3.10.
The targets will be price levels of $5.85 and $8.20
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
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.
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.