RDN has been moving in a very low area of the chart for the last 2 years and a half, and we can read several trend inversion signals from the weekly chart and other timeframes.
-huge descending wedge formed and now price is challenging the upper resistance for the third time, expected breakout
-volume raising (bullish divergence) with some green peaks
-new all time low set
-all main moving averages are going to be retested for the third time.
When price will be able to break them, we will see a big jump, at least at 6000 sat where 200 weekly MA sits.
Target for this action is top of wedge - around 10000 sat.
cheers,
Baked Finance
this post is for educational purposes and not financial advice. do your own research first.
-huge descending wedge formed and now price is challenging the upper resistance for the third time, expected breakout
-volume raising (bullish divergence) with some green peaks
-new all time low set
-all main moving averages are going to be retested for the third time.
When price will be able to break them, we will see a big jump, at least at 6000 sat where 200 weekly MA sits.
Target for this action is top of wedge - around 10000 sat.
cheers,
Baked Finance
this post is for educational purposes and not financial advice. do your own research first.
Trade active:
BTC strenght caused RDN to fight a bit more with resistances, trade is still open and looking good
-price is confirming reversal
-wedge breakout is close
you can place a worst-case stop loss above your entry price and start to enjoy profits.
cheers!