Waves USDT Looks Topped. Bearish reversal Is expected
OKEX:WAVESUSDTPERP rallied past few weeks after a long accumulation without any healthy correction on the HTF structure .
Looking back into the data it looks like reaching to new potential higher high and make a reversal. As for now indicators are giving mix signals and turning into bearish bias as the rally stalls above at the (EQ) Equal highs- 4h chart shows rectangle at the top which may turn into distribution since RSI is slowing turning bearish and the momentum is losing its strength .. Waves may provide a very nice entry very soon..
Never trade without a stop loss.
never risk more than 5% of capital on a single trade.
happy trading
Looking back into the data it looks like reaching to new potential higher high and make a reversal. As for now indicators are giving mix signals and turning into bearish bias as the rally stalls above at the (EQ) Equal highs- 4h chart shows rectangle at the top which may turn into distribution since RSI is slowing turning bearish and the momentum is losing its strength .. Waves may provide a very nice entry very soon..
Never trade without a stop loss.
never risk more than 5% of capital on a single trade.
happy trading
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