$WLD Up 17% in two days!!!
Price at $0.589 (24h +9.32%)
I’d say today’s buying in WLD is genuine.
The bears are feeling the pressure overhead. Since the dip to last Sunday’s low, it’s rallied 17%. Buying volume only started coming in Monday night, and today’s move is basically a continuation of that buying.
Analysts are weighing in too: they like the chart, they like the coin, and they think there may be an announcement coming. Public endorsements like these usually don’t happen at the bottom, but the price hasn’t fallen, so the people making these calls are effectively going along with the buying.
Those who bought near Sunday night’s low have the most confidence now; the bears can only grit their teeth.
Funding is only slightly positive, so today’s rally isn’t overcrowded;
Open interest is still elevated. If $0.55 gives way, these positions could all rush for the exits.
My level to watch is also $0.55. That’s where Sunday’s move started. If it breaks, both today’s buyers and those who bought the dip will have to rethink their positions.
I’m still treating this as a strong market tonight.
#WLD
Price at $0.589 (24h +9.32%)
I’d say today’s buying in WLD is genuine.
The bears are feeling the pressure overhead. Since the dip to last Sunday’s low, it’s rallied 17%. Buying volume only started coming in Monday night, and today’s move is basically a continuation of that buying.
Analysts are weighing in too: they like the chart, they like the coin, and they think there may be an announcement coming. Public endorsements like these usually don’t happen at the bottom, but the price hasn’t fallen, so the people making these calls are effectively going along with the buying.
Those who bought near Sunday night’s low have the most confidence now; the bears can only grit their teeth.
Funding is only slightly positive, so today’s rally isn’t overcrowded;
Open interest is still elevated. If $0.55 gives way, these positions could all rush for the exits.
My level to watch is also $0.55. That’s where Sunday’s move started. If it breaks, both today’s buyers and those who bought the dip will have to rethink their positions.
I’m still treating this as a strong market tonight.
#WLD