WAVES/BTC: Technical analysis - 06.07.2018

in #cryptocurrency6 years ago

Hi everyone!

As a crypto trader, I'm investing time in learning technical analysis and other charts. After I have learned about Technical Analysis (just essential till now), I want to contribute by adding charts and my report to you guys, hope that you will find it informative in some way.

After researching for a while, today I have come up with WAVES, decentralized crowdfunding, and trading platform.

Firstly, let's have a look at the chart below, which is from Bittrex. The timeframe is 1D.

There are three fundamental analyses here:

  1. WAVES is trading at the downward​ support line (drawn from connecting the bottoms)
  2. RSI Showing signs of accumulating (RSI points upward)
  3. MACD show reversing a trend

Furthermore, there is some good news coming up for WAVES, so that I think WAVES can have a perfect setup at the moment. From the current point, WAVES may reach the upper resistance line in around five sticks (equal to five days).

Right now, WAVES is trading around $4,39, ranking at 43rd on Coinmarketcap​.

If you find my analysis exciting or need to update on something, please let me know! Thank you very much.

Disclaimer:

This post is not financial advice, and I do not offer financial service. This entire post is for informative purpose and not a recommendation to perform any trade.

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