On the daily chart you can see a clear increase in trend angle to the point that this can easily be called a parabolic move. It could still move higher but as soon as the most recent trend angle breaks to the downside with a candle's open price, we can expect to see retracement to one of the fib levels followed by consolidation before we move higher or break-down.
Seeing the trend angle breaking to the downside, combined with price crossing below the beige 15 candle WMA, is a great pair of confirmations that the price will be on it's way down to the 50%, 61.8% or 76.4% fib retrace levels.
Here's an example with the WAVES/BTC parabolic move that happened recently:
Aside from price, fundamentally I think Ravencoin has one of the most enthusiastic communities and devs of all the mid-cap coins. Therefore there are a lot of reluctant retail buyers that have been waiting for RVN to turn around and go back to the upside like this; so this could mean our parabolic move could be pushed higher still before we see retracement.
Cheers and happy trading!
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A new day candle has just opened below the most recent trend angle increase and the stochastic synergy is indicating a change in momentum. Down to 50% or further we go over the next 5 - 15 days! :)
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Market got excited preventing price from moving down past the 15 WMA. Waiting for the CHOP LRSI to indicate reversal.
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On the daily we've finally broken the second trend angle line. Complacency period is ending and then more bears to come!