TWTUSD 1WTWT ~ Updated
#TWT Make purchases gradually when the retest of this support line is successful.
Short term target of at least 20%+
Twtusdsignals
TWTUSD 1WTWT ~ 1W
#TWT Make a purchase every time this support line is retested, Aim for at least 15%+
TWTUSD Trade the break-outs. Bullish reversal may come soon.Trust Wallet Token (TWTUSD) is trading within a Channel Down pattern since December 2022. Yesterday it touched the Support Zone and rebounded, making a Double Bottom structure so far. At the same time it is restrained by the 1D MA50 (blue trend-line) as the short-term Resistance. There is a medium-term Resistance Zone since mid-June within 0.9700 - 0.9915 and it's where the 1D MA200 (orange trend-line) is headed to.
We see this range within the Support and Resistance Zones as neutral territory and only willing to trade the break-outs above or below. A 1D candle closing above the 1D MA200 would be bullish, targeting the 0.618 Fibonacci retracement level at 1.3000. A 1D candle closing below the 0.7115 Support would be a bearish break-ou, targeting 0.5350, which would be a -46.26% decline from the top, similar to the previous two within the Channel Down.
Notice that a 1D Bullish Cross that is about to be formed, may represent a long-term trend change to bullish.
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TWTUSD Unaffected by the Bear Cycle, going to 2.700 and above.The Trust Wallet Token (TWTUSD) broke yesterday above its 1D MA50 (blue trend-line) for the first time since December 16 2022. With the use of the Fibonacci Channel levels we can identify the long-term bullish trend that the token has been in since its inception, unaffected by the 2022 Bear Cycle.
Three days ago it formed a 1D MA50/1D MA100 (green trend-line) Bearish Cross and as we see on the chart, this has most of the time historically been a bottom signal. As the price is supported right on the 1D MA200 (orange trend-line), we are expecting the green Channel Up to guide it upwards and once it closes above it, lead a rally back to the 2.700 and even the 2.0 Fibonacci extension slightly higher.
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