RLC is severely undervalued and the TA suggests a mini break out here, as it cracks resistance from the wedge formation, lets see if we can get a decent swing here.
After RLC broke out of the $1.6 zone, buying pressure came back strongly and RLC rallied to the $2 zone shortly after. This is a sign that the $1.6 zone is still a good support for RLC. If we don't lose this zone, in the near future RLC can rise back to the 2.5$ zone
📈RED PLAN
♻️Condition : If 1-Day closes ABOVE 1.6$ zone
🔴Buy : 1.6
🔴Sell : 1.9 - 2.2 -...
This is a long-term chart.
This is what I see happening in the long-run.
We can easily appreciate the cycles on this chart.
Simply a wave up, a wave down; wave up, wave down...
At the same time we have Higher Highs (HH) and Higher Lows (HL).
We are in a down wave, the next wave should be up.
Namaste.
RLC currency has good conditions for entering a step. The entry point and targets are specified in the chart.
This analysis is not a trading signal and is just a personal analysis, so be sure to check your chart before taking any position.
RLC has lost -55% since November 2021 and -85% since May 2021.
As you see it is working inside his the ascending triangle pattern. If you want to trade as well as holding long.
What the catch:
If Bitcoin to bottom out and showing some bullish sequence can take long although this idea is invalidated if Bitcoin shows no signs of recovery.
Here is just my idea...
In 2020 - 2021 we had about 10-15x return with RLC.
In BTC pair
Here is updated journey targets; it needs to close above the mark to continue or go into a correction then continue the trend.
As always, these are long-term targets, not short-term:
T1: $15
T2: $31
T3: $45
T4: $62
#RLC/BTC
#RLC broke out Bull flag channel resistance .
So I am expecting 200% Minimum from here.
Entry:- 7000-7600 Satoshi
Targets:- 10800/14700/21000 Satoshi
Stop Loss:- 6300 Satoshi
Support:- 6700 Satoshi
Resistance:- 10800/14700/21000 Sat
RLC Short and long term
I am not a financial advisor. The content I create should not be considered financial advice, and is for entertainment purposes only! This is a video for entertainment purposes ONLY. If stocks are mentioned on this videos, I may have an ownership interest in them (i.e. bought some shares) so please DO NOT make buying or selling decisions...
When the whole market is red with Bitcoin pairs or USDT and decreases! You can still make a profit in other markets!
The RLC pair has a profit position of 10 to 15% against ETH. RLCETH .
Everything is marked on the chart.
Do not forget capital management.
Do not forget to manage risk to Reward.
Good luck and profitable.
Pair: RLCBTC
ENTRY: 0.00005650 - 0.00006150
TP0: 0.00007040
TP1: 0.00009500
TP2: 0.00010400
TP3: 0.00011500
TP4: 0.00012800
TP5: 0.00014800
TP6: 0.00016800
TP7: 0.00020100
TP8: 0.00025410
TP9: 0.00028650
STOP: Close Weekly (W) below 0.00005400.
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Enjoy.
Remember to be patient and have a plan before you trade.
This is not financial advice.
After the strong jump 3-Dec. RLCBTC went straight down, we are waiting for a new jump.
When people become excited and buy into a pair they do this without a plan.
Market manipulators can see this and what follows the price increase is a huge crash.
When the people get desperate and sell at a low (around mid-Dec.), that's when everything recovers and a new wave...
Great choice for the current downturn in the market.
Due to the downtrend of the market with Bitcoin and USDT pairs, the RLC option with ETH is currently a lucrative option and its potentials are well shown in the chart.
Good Lock.
