WazirX (WRX) / USD & BTC

17 Okt 2020

Following an oversold condition (orange column) and near 50% correction since mid-August, the WRZ token is now showing a rotation is on the horizon. That facts of the daily chart above:

1) Regular bullish divergence - Lower lows in price action coincide with higher highs in the oscillators.

2) Price action has retraced to the golden ratio (0.786)

3) Price action is below the major moving averages, oversold, perfect moment to go long.

4) Trend reversal – lower lows now replaced with higher lows.

Can price action fall further? Absolutely.

Is it probable? No. Probability of upside is now far greater than the risk of downside.

3-day chart – bullish engulfing candles



3-day Bitcoin pair – oversold

Bullish signals across multiple pairs is an excellent signal. Price action on the Bitcoin pair is on support following the lows of March with Bullish engulfing candles forming.

10 Feb 2021

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3 Apr 2021

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1700% in a little over 5 months - amazing.

Price action is now overbought with the daily candle forming a 'gravestone DOJI'. It is not yet confirmed.

Is it probable price action continues to rise? Sure. Is it possible? Unlikely.