This is what I see for Ripio Credit Network (see also my latest post on RCN): a bullish reversal pennant pattern.
Price is soon to break out of the simmetrical triangle forming under the flagpole that corresponds to the recent panic sell-off (Binance delisting and other delistings).
OBV on balance volume, after making a deep all time low, is ticking up strong and steady.
This is a high risk play - but I felt enough confident to build up a heavy position in RCN.
Go big or go home.
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HOLY COW !!
IT HAPPENED 1 MINUTE AFTER MY POST !!
BIG BREAK OUT AND UP 60% !!
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Was only a temporary spkike .... more time will be necessary for a break out.
Trade active
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RCN broke down from the symmetrical triangle !! However I think that this is a FALSE breakdown.... this is even more bullish IF it plays out !! RCN has very low liquidity ! This is still a very high risk play !! But I am willing to take it !
It's gona be unstoppable soon! mega blast to previous ATH and then blast to the ATH
Dangermousebanana
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@skabian, thanks for commenting !! What gives you such a confidence ?
skabian
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Thanks for your analysis @Dangermousebanana, charts tend to repeat themselves, @JJcycles named it his fav pattern, I re-spotted it before it happen to repeat?? Check for yourself: pasteboard.co/fuUDyOBYIbL0.jpg hopefully it plays out