samadamsSAO

Potential REQ short term paths

BINANCE:REQBTC   Request Network / Bitcoin
1d linear chart REQ/BTC Binance
EMAs: 20, 50, 200
Indicators: RSI , MACD , 3 EMAs, Fib, TD Sequential, Volume

What are your thoughts?
Comment:
Comment: A daily close above or below the descending trading channel will give a good indication of where REQ is headed longer term.
Comment: My apologies, the fib retracement lines are misplaced - they are now corrected below
how long to hold ? thanks !
Reply
samadamsSAO mansiinator
@mansiinator, REQ has plenty of room for growth and is a project I believe in so this is one of my long term holds.

If you are looking short term, we are just about to hit the .618 fib retracement which can act as strong resistance if there isnt high bull volume. So right now would be a good time to take profit but I would suggest re-entering once we close green (daily) above the fib line with an increase in bull volume.

You can see the last time we closed green above this fib, there was a large decrease in volume, as a result bringing REQ immediately back down. if we can close above the fib with good volume, our next target would be the next fib at around .0000388

Reply
Took a bit longer than expected but the reversal was achieved and REQ/BTC has closed above the descending channel. These Fib lines should act as support and resistance for the near future. =D

look in comments for screen shot
Reply
samadamsSAO samadamsSAO
@samadamsSAO, every time i try and post an update I accidentally put it in the comments lol
Reply
Took a bit longer than expected but the reversal was achieved and REQ/BTC has closed above the descending channel. These Fib lines should act as support and resistance for the near future. =D
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