Wabi/BTC looking for a bounce?
Wabi/BTC has been in a falling wedge since March 2021. Falling wedges are considered reversal patterns so it is likely to breakout bullish. On the daily time frame, I see hidden bearing divergence. This could push the price down to re-test 0.00000195 BTC which is the current bottom. This line should act as support and start the bullish breakout. The daily MACD and RSI look bearing with no distinct sign of a reversal in trend. The Stochastic RSI is reset on almost all time frames which could show a change in momentum.
Bearish Scenario:
There are no more support lines below 0.00000195 BTC. If this support lines fails, we could be looking at a very bearing scenario.
Bullish:
A breakout of the falling wedge could send the price to the next line of resistance at 0.00001796 BTC.
This coin looks to be bearish in the medium to short term. The macro environment and bitcoin are looking bearish so I wouldn't expect much out of this coin anytime soon.
Just what the TA is saying.
Bearish Scenario:
There are no more support lines below 0.00000195 BTC. If this support lines fails, we could be looking at a very bearing scenario.
Bullish:
A breakout of the falling wedge could send the price to the next line of resistance at 0.00001796 BTC.
This coin looks to be bearish in the medium to short term. The macro environment and bitcoin are looking bearish so I wouldn't expect much out of this coin anytime soon.
Just what the TA is saying.
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