Kudiiee
Long

RVNBTC | Apex | Symmetrical Triangle | Breakout Imminent

BINANCE:RVNUSDT   Ravencoin / TetherUS
Todays chart – RVNUSDT – Attempting to break the symmetrical triangle formation as it nears the apex

Points to consider:
- support and resistances converging (apex)
- Bullish Price action (sellers bought up)
- RSI above 50
- Strong volume

RVN trading within a mature symmetrical triangle where buyers have consistently bought up the sellers throughout the formation.

RSI breaking above 50 showing increasing strength in the market supporting the bullish bias.

Strong volume node is present, increasing volume follow-through is key for a continuation of this break.

Overall, in my opinion, a bullish breakout is imminent. A long trade will be validated on a retest of the neckline (conservative entry) or a break of the formation (aggressive entry) as both technical targets align with structural resistance.

What are your thoughts? Let me know in the comments below!

Be sure to leave a like and follow me for daily chart updates.

As always, focus on you - and the money will too!

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out