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.
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Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.