IEXEC RLC / BITCOIN - Long Term Trend

A great project with strong fundamentals and the potential to provide decent BTC ratio gains during the start of the altcoin cycle

Fundamentals:

• Promising project with a technically knowledgable team, decentralized Oracles (look at what happened in price action compared to LINK), Cloud Computing for graphic 3d rendering and AI (machine learning models), etc.
  
• Enterprise Marketplace Launch Q1
  
• Collaboration and research with large industry players in the tech sector
  
• Total Supply = 86,999,785 RLC
  
• Circulating Supply = 80,070,793 RLC
  

Technicals:

• Weekly MACD histogram showing bullish flip on the weekly chart
  
• Parabolic SAR indicates a start to a potentially strong uptrend on the daily chart
  
• Price broke out of the long-term bullish descending wedge and formed a medium-term bullish descending wedge
  
• Price forming Ascending triangle on 4h chart
  
• Long-term Gann line acting as support should the ratio drop
  
• EMA Cross on daily (20 EMA ready to cross above 50 EMA)
  
• Fractal points to a future price increase up to at least red horizontal or orange resistance lines
  

Targets for RLC/BTC

• TP1 = +-0.00021
  
• TP2 = +-0.00026
  
• TP3 = +-0.00039
  
• TP4 = +-0.00057
  

Trade active:

Strong breakout of descending wedge, TP1 (1.0 Fib level) hit. First take-profit level. Awaiting formation of consolidation structure/correction before moving on up to TP2.