As BTC and the rest of the overall market bleeds red, there are a select few gems out there signalling the brutal alt bear market may be in the accumulation phase, one potential is RCN.
Yes it is too late to call the bottom of the alt coin market, however, it is obvious that there are investors out there using this opportunity to accumulate.
Perhaps the biggest key to consider in this chart is the very strong accompanying relative volume on these price spikes, this is a very strong indicator of accumulation.
The inverted H + S pattern found on RCN is evidence of this, a fulfillment of this pattern would suggest a price target of $0.08.
Yes it is too late to call the bottom of the alt coin market, however, it is obvious that there are investors out there using this opportunity to accumulate.
Perhaps the biggest key to consider in this chart is the very strong accompanying relative volume on these price spikes, this is a very strong indicator of accumulation.
The inverted H + S pattern found on RCN is evidence of this, a fulfillment of this pattern would suggest a price target of $0.08.
Trade active:
RCN appears to be fulfilling the inverted H + S pattern, we will have to wait and see how the weekly closes out.
Trade active:
The H + S pattern has confirmed the move and on the wicks has fulfilled the price target.
