WAN- Bearish divergence on 4H
As is stated in the title, I spotted a bearish divergence on Wanchain's 4Hr chart.
Fib retracement has 1825 satoshis high from 31st of October of 2018 and 737 satoshis low of 6th of February of 2019.
Chart shows higher highs on price chart, but lower highs in RSI and Chaikin Monew Flow indicators. Coupled with this bearish divergence, we haven't had confirmation on top of the .382 retracement resistance.
Taking this into account, I believe the most likely scenario is a short-term retracement right now. We will have to see what happens after that for a confirmation of this bullish trend. Maybe even a comeback for this big time altcoin retracement when the staking pilot takes place.
PD: Not financial advise, educational only.
Fib retracement has 1825 satoshis high from 31st of October of 2018 and 737 satoshis low of 6th of February of 2019.
Chart shows higher highs on price chart, but lower highs in RSI and Chaikin Monew Flow indicators. Coupled with this bearish divergence, we haven't had confirmation on top of the .382 retracement resistance.
Taking this into account, I believe the most likely scenario is a short-term retracement right now. We will have to see what happens after that for a confirmation of this bullish trend. Maybe even a comeback for this big time altcoin retracement when the staking pilot takes place.
PD: Not financial advise, educational only.
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