6900 SATS - Make Or Break

23 Şub 2019

WAVES has been quite the performer this year. 6900-7000 sats has proven to be strong support. I entered a position at 6988 satoshis. I received a lot of criticism for buying WAVES while it was tittering on support. In my eyes, the R/R was so optimal and had so much upside potential with such a minimal downside risk that it was clear as day. I took out a large position at 6988 with an invalidation point (stop loss) around 6925. This is one of the few alts I am holding as I just sold off my BNB and am hedging my BTC stack with some TUSD and some margin shorts.

If we break down past 6900 sats and hold, WAVES is going to drop like a rock; full on nose dive.

WAVES has a ton of catalysts coming up and could easily break upwards if volumes comes in. Note that we have been getting rejected as resistance just about every time we've made a run for it. So tread carefully

Note: I am not a financial advisor, this chart is meant for educational use only.