We considered the Bitcoin price analysis here and assumed that we will see the price growth soon. According to this I found very interesting pattern for TWT.
TWT price now is forming the classical distribution phase. We saw all Wyckoff events on the chart. Now it is important to decide, if the price is going to form UTAD phase – the massive growth above the ATH before the downward movement, or not? I have 2 evidences that it is going to happen. The first one is our Bitcoin price analysis, if we assume the last altseason in this bull run, TWT price can easily reach the $1.80 before the correction.
The second one evidence is the divergence between the Money Flow Index modified for the blockchain assets, which shows the whales purchases. We can see that despite the price is falling, MFI demonstrates higher lows.
I don’t want to tell you that you should buy TWT right now, I just think that we should take profit from this coin with the further price increase to earn more money. This is actual for you if you bought TWT in the green zone on the MFI, when the institutional investors did it. You can also try the short term trade but you need to define the proper stop loss level according to price target $1.6 – $1.8. Investing in this crypto now is too risky because of bad risk to reward, it is obvious that whales are selling to you TWT on this distribution.
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