WAN/BTC - Quietly Bullish (Relief or Reversal?)

It's no secret that Wanchain was hit hard during the 2018 bear market. Aside from periods of relief (March - April, May - June, July), it has continued to slide lower and lower into oblivion.

According to Coinmarketcap, Wanchain is down -94.3% from its dizzying highs in May 2018. They say "buy when there's blood in the streets" which sounds great until you're tasked with actually putting your money into an idea when no one is interested. Is this once-hyped >$900M market cap project worth considering? Let's see...

Reasons for the trade:

• Technicals are positive - OBV and Histogram divergences are currently working. Clearer high timeframe structure would be the icing on the cake.
  
• High volume breakout with higher lows forming on the 4hr chart
  
• Upcoming fundamental news (PoS validator nodes launching on August 20th, up to 16% return annually, mainnet staking in September)
  
• VPVR gaps above look like Swiss cheese. If enough buyers step in, it may rise as quickly as it fell. The POC is roughly 4x current price.
  
• Large caps (LTC, EOS, ADA, BCH) posted up to double digit gains over the weekend. Will this strength flow into the medium-cap Binance alts?
  

評論:

Lower timeframe view (4hr):

評論:

There we go! High volume breakout taking place. Indicators looking great on the daily chart, plenty of continued upside is likely.