RCN recently broke out up to 1550 Satoshis but it couldn't sustain the upward momentum as the Bitcoin price dropped at the same time. Now it is going for another breakout, chart looks good with higher highs and higher lows. Volume is building up. Aggressive traders can enter now, safe traders should be looking for the 4H candle to close above the first target(1537 Satoshis). Targets are on chart, I don't use stop loss in crypto markets as it is too volatile and you don't want your stop loss to trigger with a possible flash crash. If you are worried, you can set stop loss at 1400 Satoshis, I just use alerts for stop loss points and targets.
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I entered this trade at 1370 and 1400 Satoshis as I wanted to be aggressive on this one. It is above my entry but Bitcoin has been dropping twice while RCN was testing the first green line. A close above this first green line(1537 Satoshis) in 4H chart would be a good and safe entry in my opinion. Let's hope BTC doesn't plummet again during RCN's upward momentum.
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This the 4H chart. You can see RCN is moving in an upward channel at the moment.
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Finally breaking first resistance. I will buy more RCN if it can close above 1537 sats in 4H chart.
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Trade active
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Target 2 has been reached and BTC increased to $8500 leading RCN to decrease back to 1600. Trade is still active, we need healthy pullbacks after take offs.
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Target 3 and 4 have been reached, almost touched the final target and RCN still looks strong.
With a platform going live later this month do you think it can go higher than 2117?
Crypto28
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@StevenMaldonado, RCN's all time high price was 3666 satoshis so it will eventually return back there. This is just a short-mid term trade set up for me and 2100-2150 satoshis is a really important level in my opinion because if it breaks that out we can see the price push further above to ATH. I am just not holding this coin as my long term investment but upcoming news are promising for this platform.