Welcome to this quick Analysis.
WRX Broke down below the long term support trendline of the Triangle since its listing.
200D MA acted as a support so far.
The daily fib levels are good levels to buy in if you're looking into it. Break above the Red Resistance trendline will confirm the possibility of new ATH (In BTC pair) for WRX.
Besides it looks like we will be trading under a small falling wedge pattern which is basically a bullish pattern break above this wedge will alsonconfirm the uptrend.
So this is also important to keep in mind that if the
price breaks above this wedge+red trendline resistance we can buy back in even if all the bids aren't filled.
Currently I hold a decent amount of WRXX in my portfolio and placed more buy bids at the following levels:
Entry:
1. 1775
2. 1755
3. 1725
4. 1670
5. 1590
Targets:
1. 1970
2. 2230
3. 2460
4. 2575
5. Hold 20% Position for the long term.
Stop Loss: I don't recommend a stop loss, this is a potential coin and accumulating in the dips would be the best Idea IMO.
If you you like this idea please hit that like button and share your thoughts, comments, ideas in the comment section.
We're here to learn together.
#PEACE
WRX Broke down below the long term support trendline of the Triangle since its listing.
200D MA acted as a support so far.
The daily fib levels are good levels to buy in if you're looking into it. Break above the Red Resistance trendline will confirm the possibility of new ATH (In BTC pair) for WRX.
Besides it looks like we will be trading under a small falling wedge pattern which is basically a bullish pattern break above this wedge will alsonconfirm the uptrend.
So this is also important to keep in mind that if the
price breaks above this wedge+red trendline resistance we can buy back in even if all the bids aren't filled.
Currently I hold a decent amount of WRXX in my portfolio and placed more buy bids at the following levels:
Entry:
1. 1775
2. 1755
3. 1725
4. 1670
5. 1590
Targets:
1. 1970
2. 2230
3. 2460
4. 2575
5. Hold 20% Position for the long term.
Stop Loss: I don't recommend a stop loss, this is a potential coin and accumulating in the dips would be the best Idea IMO.
If you you like this idea please hit that like button and share your thoughts, comments, ideas in the comment section.
We're here to learn together.
#PEACE
評論:
This is the Daily zoomed out Chart. See how we broke below the support trendline.
評論:
#WRX had a strong support around 1780 level/. I've bought around 1806 and will buy more dips if it shows up.
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