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Wanchain / Bitcoin

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WANBTC trade ideas

WAN, WANBTC - Ready to Break Out?WAN, WANBTC had a very nice runup till the beginning of May and since then retraced all the way back to the .786 level and it's now in a big channel. If we manage to break out of this channel from here then we're looking to make an inverse head & shoulder pattern with the break at around 6585 satoshis of the neckline. In the chart above you see my EW count of the next impulse wave up if WANBTC manages to keep recovering. Leave a comment if you have any questions. Like the post, if you liked it and share it if you loved it. This is for good karma. And until next time, good luck with your trading! Disclaimer This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
Long
by Trade_Masters
WANCHAIN BREAKING OUT OF CHANNEL DOWN ? Wan has been in bear market more than 3 months and finally break out of channel up. We have to watch WAN very closely because volume increased and RSI on 1d chart formed nice double bottom. CCI indicator is turning into the green . Wan has minor resistence around 63k sats but if market continues to be bullish and we dont fall with bitcoin back to panic sell than wan will rise with bitcoin also. Look for Buy around 55-60k sats with target 65k sats, 70k sats and 75k sats, you can put your stop loss bellow 52k sats. Good luck
by MichalMajzlik
WANCHAIN/Bitcoin BREAKOUT?On the Hourly I see Wanchain forming an ascending triangle pattern, we have also retraced to the 0.618 gib level, the golden ration,combining this with the fact we have become oversold on the daily I believe we could see a breakout soon. using fibbonacci and support and resistance I have mapped out some sell areas where, if we see a breakout, the trend could reverse to bearish. This would provide investors with possible levels to sell a percentage of their position and buy back in at a lower price to increase position size.The red bars mark high confidence sell areas, and the orange box marks an area of resistance but where I could not determine a specific sell target. Again, when we reach these sell areas, we will need to zoom in and look at price action and RSI to help determine if a retracemement will indeed occur at one of these levels or not. If this breakout fails, and we fall lower, I will not be selling but instead adding more to my position, however I do not see this as likely.
Long
by kryptoninja33