Waves(WAVES/BTC) Update 08/08/2017: Ripe Time For New Buyers!!!!
Waves is creating low tide today after high tides which it created in last few days. It was powerful move on upside breaking past multiple resistances after consolidation at important levels. Currently it is trading at 152k satoshi, down 7.6%.
Let me quickly take our attention on chart below to find out why i said in title that it is ripe time for new buyers to sow their seed in this script..........
Their are following points to notice on chart above:-
- Bullish Crossover: 10 Days EMA(Blue Wavy Line) has crossed 50 Days EMA( Red Wavy line) on upside resulting in bullish crossover. In short, it means that momentum is now on upside and traders or investors should use the dips to enter as buyer in this script.
- Resistance Crossover: 145k satoshi level was strong resistance to rising Waves prices as this script has already made triple top before breaching this level successfully this time. Now, it has receded after touching 175k level and tested 145k level as support in today's downmove.
- Volumes: Liquidity is on higher side in last two days which backs the strong upmove which this script has given in last two days.
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Now The Conclusion
In conclusion, I am inclined to say that this script is really in good shape to enter. It has cleared important conditions like bullish momentum, strong liquidity and most importantly it rises after some consolidation around 132k satoshi level. So, today's dip is ideal time to enter this script as buyer as this script is now in stronger hand as per chart and in financial world charts are king.
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Agreed! The breaking of the descending channel followed by a breakout through the resistance you pointed out makes for positive price action.
Quick test of the prior resistance going on now and we are prime for another leg higher. Probability favors that, we shall see if it comes to be.
Good analysis. Thanks!
Thanks alot for stopping by
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@vato hey brother, why u downvoted my post. please remove ur flag if done accidentally
Agreed @vato, Jimmy is my source for trading advice and I appreciate his work.