🔥 WAVES Strong Correction: Fibonacci Reversal

Binance Academy summarise year 2022 featuring The Merge, FTX and more

🔥 WAVES Strong Correction: Fibonacci Reversal by FieryTrading on TradingView.com

WAVES has been on an absolute blast for practically all of March. However, the $60 area proved to be a very strong resistance and caused the current downfall in price.

With prices getting decimated over the last couple of days, I'm starting to look for entries. The overall market trend is still bullish , so I'm expecting WAVES to correct upward in the coming days.

The main area I'm looking at is the purple area on the chart, right between the 0.5 and 0.618 Fibonacci Retracements. This area is classically an area where reversals take place.

If we reverse towards the $40, I'll scouting for exits. Highly doubt that we're going to see $60 anytime soon again.

Happy trading!

Binance Academy summarise year 2022 featuring The Merge, FTX and more

Fierytrading Analysis

Experienced crypto, stock and FX trader with a focus on technical and on-chain analysis. One of the top analysts on Tradingview with daily crypto signals and market overviews.

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