RDD is getting a little head and shoulders looking resistance
RDD is getting a little head and shoulders looking resistance on the 4 hour chart.
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Watch for the Parabolic SAR flip to confirm more of a bearish move. Also keep watch of the RSI and STOCH for a buying opportunity. I think the over all trend is down and all buys should be considered as profit swings.
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Be sure to watch RSI levels when determining the proper buy levels.
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Disregard the last comment with the link in it. I am unable to delete previous comments. It looks like BTC is weakening as it is still in a strong downtrend.
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The trade is developing as planned. Keep a close eye on the 200 DMA and the STOCH or a short term bounce. The RSI still has a long way to go to the downside on the 4 hour and daily charts.
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My absolute lowest targets are 65-67 and 41-44
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RDD is sitting right on the triangle support line. If it fails and breaks to the downside we should be on our way to achieve our target(s).
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Just another chart update as we get closer to breaching triangle support.
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"Watch for triangle support breakout" should have said "watch for triangle resistance breakout." Sorry
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We are still sitting on the triangle support level. The fight between bulls and bears is even right now. Nobody wants to buy it here and nobody wants to sell it either. We will wait while to uncertainly is resolved and the trend reverses or continues it's downward movement. I am leaning more toward downside with the current state of the bitcoin correction and the fact that the RSI still has room to decline to the oversold level on the daily chart. To be fair, without factoring in all outside influences....the chart would normally look bullish. These are just dark times in markets.