Ravencoin big volume spike, accumulation coming to an end
Ravencoin is a good fundamental project also it is quiet decentralized(very less left as of now) there are individual miners which are mining RVN, and when miners especially individual ones are joined into mining a coin you have the idea that it's not going to fail or is a Scam. Even Raven had no funds raised or premined and is a working protocol.
Looking at the chart we see a big volume spike today nearly half a billion are bought, also it is in a consolidation since last 4 months(like most altcoins as general) and few of ones which haven't spiked yet. If we look closely there is also a W kind of bottom forming and the support is like its always there for this coin at the bottom level. If we look at the previous bull runs of this coin it has a tendency to go exponentially in days (look left on the chart)
You can buy it as per your investment and trading style as the big volume can be an indication for the beginning of next wave up in this market, if you are a midterm trader you can easily ride the complete wave, targets are on the chart sl can be used as per your risk management scenario.
Also the price is high atm cz of bullish move you can wait for it to go down a bit and then buy. Don't forget to use SL as per your style.
Happy Trading.
Looking at the chart we see a big volume spike today nearly half a billion are bought, also it is in a consolidation since last 4 months(like most altcoins as general) and few of ones which haven't spiked yet. If we look closely there is also a W kind of bottom forming and the support is like its always there for this coin at the bottom level. If we look at the previous bull runs of this coin it has a tendency to go exponentially in days (look left on the chart)
You can buy it as per your investment and trading style as the big volume can be an indication for the beginning of next wave up in this market, if you are a midterm trader you can easily ride the complete wave, targets are on the chart sl can be used as per your risk management scenario.
Also the price is high atm cz of bullish move you can wait for it to go down a bit and then buy. Don't forget to use SL as per your style.
Happy Trading.
Comment:
I don't generally draw them when i'm quite sure, but for your reference purposes
Comment:
Weekly support gets activated, steady rise in rsi forming