This is for my investment journals.
RSR is exiting the distribution as it follows bitcoin. Wave-pm indicates compression on lower periods. My expectation is to continue the bullish trend as we approach the halving date for bitcoin 4 months from now.
RSR is exiting the distribution as it follows bitcoin. Wave-pm indicates compression on lower periods. My expectation is to continue the bullish trend as we approach the halving date for bitcoin 4 months from now.
Comment:
It is interesting to note that the weekly candle closed as a mean reversion to the 4hr 233ma. This seems to be another test of the upper band distribution of the Longest Over Expanded Period. The consolidation period is indicative of buyers and sellers finding the Fairest Value of exchange as speculators attempt to capitalize on future price action. The disagreement on sellers to move into the distribution of the LOXP results in price action expanding the distribution toward bullish action. At the weekend of Week 2, price has moved outside the distribution of the 233ma. I expect the new Fair value of Exchange to increase on the 4hr chart for RSR as price remains outside the distribution. It is possible that RSR is still in the midst of a consolidation event as the distribution must compress further to access a higher state of possible volatility. Therefore my short term discernments on RSR are not bullish. But trend for upward movement over the long-term has not contradicted. Forecasting RSR’s future relies on price action from Bitcoin