Double bottom + oversold = buy opportunity?
Like many other altcoins,
REQBTC
is currently in a big correction. It currently dropped from its all time high 7220 to around the 2500 level. We can see that it tested its bearish trend line a couple of times but never managed to break out of it. Currently we have the formation of a double bottom. I've also indicated 2 previous times where
REQBTC
it RSI pointed to overselling, followed by a nice bounce. The RSI indicates overselling now as well. It could try testing its trend line again from here and I would lock in some profits at that point. If the trendline were to be broken, The first target could be the 0.236 fib level which is around 3600, I've market the 3400-3600 area as a second place to lock in some profits.
REQBTC
is currently in a big correction. It currently dropped from its all time high 7220 to around the 2500 level. We can see that it tested its bearish trend line a couple of times but never managed to break out of it. Currently we have the formation of a double bottom. I've also indicated 2 previous times where
REQBTC
it RSI pointed to overselling, followed by a nice bounce. The RSI indicates overselling now as well. It could try testing its trend line again from here and I would lock in some profits at that point. If the trendline were to be broken, The first target could be the 0.236 fib level which is around 3600, I've market the 3400-3600 area as a second place to lock in some profits.
Comment:
Breakout has happened! Would be a good time to lock in some profits