Priceline of Raiden Network Token / Bitcoin cryptocurrency formed a bullish Crab pattern and entered in potential reversal zone.
This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.
We have 200 simple moving average support withing this PRZ area.
I have used Fibonacci sequence to set the targets:
Everyone remembers the recent story with #MTL, which is + 150% on the expectations of opening deposits at Bithamba. Bithamb opens deposits slowly. Of the most likely candidates for the next announcement, these are #PPT and #RDN (although there are a number of coins, however, it is impossible to guess everything, so we take 2 coins that are the most likely).
Raiden Network Token (RDNBTC) has a solid/strong chart which is now producing a bullish breakout.
Here we are looking at it long-term.
Looking at the ATH (All-Time High), RDNBTC can grow as much as 2750% to reach this same level.
Shorter-term, we can easily see Raiden Network Token grow by as much as 180% within a few weeks.
Here are some of the signals coming...
The RDNBTC is moving withing a parallel channel and hits the support of channel.
The stochastic is oversold and MACD has already given weak bullish signals.
The volume profile is showing low interest of traders at this area.
A bullish butterfly pattern is also completed within this channel and the price action is entered in the potential reversal zone of this...
$RDN Building momentum at ATL BTC support...
Volume slowly growing..
RSI and MACD showing big divergences..
50 down since last UCTS Sell signal...
Stay alert if this gets some traction it can fly...
Apologies for the late call on this one guys, as it seems like I just missed the latest bullish move on RDN on the daily. However, as we can see on the chart above, RDN appears to be bottoming on a weekly 9, so I expect a few weeks of upside at the every least in spite of this recent surge.
RDN has found a support near 3400 area and bounced from. Red cloud become slimmer and turned to be green now. First I expect it to touch upper side of pitchfork and if it breaks more upper levels are available. Red line is a logical stop.
Enjoy it <3
RSI : 42
Volume : A little bit pump is showing but needs some energy.
Note : Trying to breakout the resistance line depicted by green line and if it closes above it 4200 sats it will be at least a confirmation for a short term upward trend towards the main resistance at around 4930 sats.
Accumulation Area : 3650 sats - 4100 sats
Distribution Area :
RDN topped out at an impressive $9 before it's falling in an epic fashion to less than $0.30 since January 18th. However, it's seems to have found a temporary bottom and have been trading range bound between $0.19 - $0.45 over the last 6 months and has begun to make higher highs on the daily time frame on increasing volume. This is one of the clearest sign of...
RDNBTC is approaching the bottom of its range. This trade has a good risk to reward ratio and momentum indicators are good on the 12H/Daily/Weekly time frames.
Ladder your buys between: 0.00005400 - 0.00004800
Target 1: 0.0005996
Target 2: 0.0006697
Target 3: 0.0007325
Target 4: 0.0008662
Target 5: 0.00009727
To set laddered buys,...
These are just my opinions. My messages or chart analysis are NOT intended as a recommendation to buy or sell any cryptocurrency or asset.
Do Your Own Research.
** NO POSITION , NO COMPENSATION **