RCN is an open global credit network that connects creditors, financial institutions, fintech companies and Decentralized Finance service providers on the blockchain, to create frictionless, transparent and borderless debt markets.
Ripio Credit Network (RCNBTC) Chart Signals
We have Ripio Credit Network, a strong cryptocurrency project, for a long-term trade. Let's take a look at the chart, we will look at our classic signals for bottomed out altcoins:
Here we have the classic bullish divergence on the MACD (purple arrows).
A low was hit on the 16-July. While prices continued to decrease, bear volume also decreased and the low was never re-tested. Now we see RCNBTC trading above EMA10 and market sentiment changing towards the bulls.
MACD bullish crossover.
Bullish RSI.
We can also see a broken downtrend and falling wedge:
Looking good ! I promise I won't ask each time but... worth a rebuy ? :)
I'm trying to understand when It has potential to move higher short term and when it needs time to recover.
AlanSantana
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@Harry_Seldon, Hard to say when a breakout just happened... It needs time to develop.
Each time a new candle is printed, you can take a new look at the chart.
Focus on one time frame at the time.
Namaste.
arkyTHEdog
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You invariably publish your forecasts 12 hrs after the event, and they have already pumped. Anyone can do that with 100% accuracy.
AlanSantana
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@arkyTHEdog, More profits will come out of this one, this is just the beginning.
AlanSantana
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@arkyTHEdog, Look at it now and please reconsider your comment... It is a longer-term perspective.
Namaste.
arkyTHEdog
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@alanmasters, i understand that. And yes this coin and others have done and will do well over a medium to longer time frame. It is a question of who the analysis is directed at. Obvioulsy not day traders or scalpers. Maybe longer term hodlers/traders. But for anybody looking to swing trade over a 1-3 day period this information is invariably posted after the stated or viable entry targets have passed. My own tools will often identify and alert the same trade candidates in a timeframe that allows me to get into the trade and take a reasonable profit. I think, and maybe I am overly cynical, that your alerts are presented to your paying clients in real time and posted here later after the real profits have been established. And that is fair enough, no complaints, but anybody seeing these alerts predicting prices 6 hours after the entries have have been reached just needs to understand their context. I like your posts, and respect your analysis, but it is frustrating to see charts which are essentially historical rather than predictive. And in fairness that does not apply to all your posts. It did with this one.
I'm trying to understand when It has potential to move higher short term and when it needs time to recover.