TTWT (Trust Wallet Token) nearly doubled in price after CZ spoke about it positivey last week.
Let's have a top-down look into the situation, starting from the WEEKLY chart to get a solid idea where we are.
First of all, what an odd chart.
It looks like a gigantic range from 70 cents to $1.7 roughly, and last week we saw a rejection at $1.55 and quite a decline in price, that was likely WAVE 3 (these waves are called money waves for a reason, usually most explosive).
Now WAVE 4 usually corrects down to 0.5 of the size of WAVE 3, so i put this $1.08 level on the chart to see what it means on shorter timeframes (next posts).
RSI is 65: bullish and with plenty of room to push upwards.
Bullish market structure obviously, lots of volume last week after #CZ spoke, but also a few red flags on the TOKEN DISTRIBUTION front.
Let's have a top-down look into the situation, starting from the WEEKLY chart to get a solid idea where we are.
First of all, what an odd chart.
It looks like a gigantic range from 70 cents to $1.7 roughly, and last week we saw a rejection at $1.55 and quite a decline in price, that was likely WAVE 3 (these waves are called money waves for a reason, usually most explosive).
Now WAVE 4 usually corrects down to 0.5 of the size of WAVE 3, so i put this $1.08 level on the chart to see what it means on shorter timeframes (next posts).
RSI is 65: bullish and with plenty of room to push upwards.
Bullish market structure obviously, lots of volume last week after #CZ spoke, but also a few red flags on the TOKEN DISTRIBUTION front.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.