Pump or Manipulation?
Recently, $WCT has shown strong upwards momentum in 15 minutes chart. The MACD is rising amidst the downfall of crypto market, so what does this mean?
My Analyst So Far:
The coin has shown a pretty good recovery after hitting it's bottom of 0•44, expressing the market in oversold condition below 10 in RSI's 1 hour chart.
Furthermore, the huge amount of shorts were liquidated after the potential reversal, which means their is highly likely that new investors are charging the game again, and whales are likely to manipulate the market one more time which can result into great rebound from the mark of current price.
The bearish sentiment is getting weaker in 15 minutes chart, indicating a strong bullish momentum and the buyers are stepping once again. If WCT doesn't break below 0•44 support level, then their are 80% chances of potentially strong bullish market ahead.
Things to Notice:
- Keep a keen eye on RSI.
- Watch out for the support level of 0•44 and 0•37.
- As always don't put all eggs in one basket, save some backup investment, and have patience.
- Watch out for the investment volume.
- Always notice MACD in 15 minute and 1 hour chart.
I hope everyone is having a good day. This is my analysis so far, and I hope it will be helpful for everyone, thank you.