Walton breaks out to the upside

2018年1月13日

Walton is a coin I've been accumulating for a while now, a decision based on fundamentals and a nice-looking chart. I'm not here to talk your ears off about fundamentals today, so be sure to Do Your Own Research. Because I'm in this as a fundamental play, I'll be holding this one for at least the medium-term to see where the Walton team's project takes us.

Walton came out of the gate last night with a new all-time high on the BINANCE:WTCBTC pair. My next target on this stop is the 2.618 fibonacci extension at ~0.0046, although I'm not planning on selling any Walton for Bitcoin.

Since the recent Ethereum rally began, I have been hunting for coins that are showing strength relative to ETHUSD. BINANCE:WTCETH recently took up the challenge, breaking a descending trendline that has been respected since October.

Speaking of the rarity of coins in an uptrend against Ethereum, it has been even tougher to find a coin showing strength against BNB. Walton shows no trepidation here either, with massive volume bringing BINANCE:WTCBNB on a path to leave the descending pitchfork, into the kumo for an already-completed edge-to-edge play, and notably bringing the chikou [I]above[/I] fractal resistance. If we get a kumo breakout through the flat-top of the cloud, we could see a nice continuation of this rally even relative to BinanceCoin's crazy tear.

I don't currently have premeditated price targets where I'll be scaling out of this token for the reasons I've expressed above, but it looks like the uptrend is just resuming.