WAVESUSDTPREP Buy | S6T4 - Team Trading Post for Fredquantum-Kouba01 Traders Team

Hello everyone, this is the final week of the trading contest. This week I'm excited to join Fredquantum-Kouba01 Traders Team. This team is led by Crypto Academy Professors @fredquantum and @kouba01. The previous weeks have been exciting, learnt a lot, had losses, profits, broke even at times and in it all I got better every time.

This week started off better than I could imagine. Without wasting much time, let's go!

Waves is a multi-purpose open-source blockchain platform that allows developers to deploy their DApps, DEXs, smart contracts, games, and any project which requires decentralization and security. Waves was launched in 2016 by Alexander Ivanov. It was created to provide a simple, scalable, open and eco-friendly platform for developers.

Waves uses a version of the proof-of-stake consensus mechanism called WavesNG to secure the network. Its native token is WAVES.

WAVES at the time I was writing this post had a value of $56.50. It was ranked #29 in the list of cryptocurrencies on CoinMarketCap. It had a market cap of $6,094,110,194. Waves has an unlimited supply with a total supply of 107,868,940 WAVES at the time.

WAVES recorded its all-time high today at a price of $59.13. Its lowest price recorded in 52 weeks and 3 months is $7.64. Its lowest within the past week was $30.41. This token has seen a significant increase within a very short period.

WAVES is listed on many exchanges. You can trade WAVES with different assets like USDT, BNB, BTC, ETH etc on exchanges like Binance, Gate.io, KuCoin, Huobi Global etc.

I woke up to see WAVES as one of the trending coins on CoinMarketCap with about a 25% increase within a day. This piqued my interest and I decided to do some fundamental analysis on the token. From my research, I found out this token started seeing constant growth with the start of the war in Ukraine.

I quickly jumped to the charts to confirm this. Some say the Russians are using this token for money laundering and that's why it's increasing at that pace. For me, I saw this as an opportunity to make a profit.

For how long I think this coin can rise, I'm not certain. It really increased so fast before my eyes. I took this trade 2 days ago. Back then I expected it to reach $56 and it got past that and reached $59. I think it'll see a continuous increase till the war is done. That's if the rumours are true and it could get to $100 before the end of June at this pace.

I trade using price action, multi-timeframe analysis and some basic indicators. The main things I use are support and resistance, 20-period EMA, RSI and sometimes Bollinger Bands. I use TradingView on my Pc to view and mark charts and I place orders with my phone on Binance.

The name of the WAVES asset pair I chose to trade was WAVESUSDTPREP. This asset is available on Binance Futures.

From the chart, you can see the pumps from the start of March. I switched to a lower timeframe to see what was going on.

The asset had increased greatly within 3 hours. The pumps were just overwhelming. From this timeframe, I still couldn't tell what was really going on.

I switched to the 15 Minutes timeframe. I expected the token to fall because it was extremely overbought. I first took a short position with a tight stop loss and I got kicked out.

I later set up the chart for a long position and placed my orders. It wasn't long after the price broke up and hit my entry. The trade details are available in the next section.

My plan for WAVESUSDTPREP was to take what I could from the market. The price was just being pumped and a reversal could occur any minute which wouldn't be looking good. I bought 3.9 WAVES at a price of 42.7420. My TP was open while I kept on adjusting the SL based on the movements in the market. This was to maximize profits in case of a reversal.

I monitored the trade for a while and then I slept.

When I woke up the price had skyrocketed. I kept on managing the trade, adjusting the SL and looking for signals of a reversal. When the price had gotten to a point I thought it was okay I decided to close the trade. I checked the RSI and noticed it was extremely overbought again and a possible reversal could happen.

The screenshot above shows my trade details. WAVES had increased by over 60% at the time and I had made a +300% profit.

The image above shows my trade history. I sold WAVE at 50.9670 and made a profit of 32.0775 USDT.

Currently, WAVES is unpredictable. Many people decided to short and have lost a lot. There are a lot of whales controlling the price of WAVES and so you could either end up on the good side or bad side if you fail to identify the false signals. At this point, I wouldn't recommend this token to anyone who is not willing to take some risk. Since the start of the war, it has constantly increased and so you can assume it's going to continue till the war is done.

Whereas it being extremely overbought should give you an idea of what should happen if the whales decide to sell. Would say set your stop loss at a reasonable price, get risk capital and if you feel this risk is worth it get into it. Currently, I have a feeling it could get to 70 dollars by next week.

Please note. This is not a piece of financial advice, my recommendation is for this contest and it is based on what I think about the token.

The waves ecosystem is still growing. Currently, there are a few projects built on Waves. You can find projects like neutrino (stablecoin), exchange (DEX), swop.fi (AMM), Vires finance (lending), Waves Ducks (NFT gaming) and a few others on Waves.

This trade is one of my best trades. I took the risk of buying and it turned out great. Been waiting for a wave like this to climb since I started trading. I was happy I gained some experience from it. Next time I might be able to maximize profits and control my emotions better.