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WazirX Closes Below EMA10, Time For Retrace
WazirX (WRXBTC) just printed a lower high with prices closing daily below EMA10, these signals can point to an upcoming retrace.
On the chart above, I've drawn a "trendline" which can work as resistance on the way up.
If prices move up, WRXBTC needs to break this trendline in order to continue higher.
Now the tendency is lower, if prices for WRXBTC remain below this trendline, we will see a drop that will likely hit the 0.618 or 0.786 Fib. retracement support, these levels are marked on the chart.
I hope that helps.
This is not financial advice.
Namaste.
On the chart above, I've drawn a "trendline" which can work as resistance on the way up.
If prices move up, WRXBTC needs to break this trendline in order to continue higher.
Now the tendency is lower, if prices for WRXBTC remain below this trendline, we will see a drop that will likely hit the 0.618 or 0.786 Fib. retracement support, these levels are marked on the chart.
I hope that helps.
This is not financial advice.
Namaste.
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