RCN has now completed a correction to the golden ratio following confirmation of the head and shoulders pattern breakout back in June 10th resulting in a 55% correction in price action. The oversold period was end of July (dark orange vertical bar).
The resistance trend line (orange) following the breakout was recently broken and has now just been confirmed as...
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Hi All !
RCN Seems Good Opportunity For Swing Trading here
And Looks Price Correction ahead !
Failed to get support above $0.72 will lead down to $0.66 and $0.60 and $0.52 ....but in mean time there's very good opportunity for swing trading !
Hi All ! RCN failed to breakout from symmetrical uptrend triangle and now its on its way for price correction !
first stop at $0.082 - entry point (risk and reward 5-6%) exit @ $0.086.... can bounce back for uptrend after $0.086 otherwise it will decline and next stop would be $0.077 ...cheers !!!
*swing trade opportunity*
Trend reversal observed in the RCN / USD pair. Other bearish signals include the formation of a head & shoulder, rising wedge, & the double top in price action versus the RSI resistance trend line. Close trade at 3 cents.
We also have bearish divergence on the weekly chart:
I have owned RCN since roughly September/October. I believe the upside is far greater then where we are now. At this moment in time it appears we are forming an ascending triangle and getting ready to move much higher.
Happy Trading and hodling.
Overall we are in the uptrend movement. But in the short term we are in the trend correction, We expect to see the prices touch the 0.618Fib with 200MA support, then we will considering get into this market at price $0.355, Teeka buy up to $0.04.
Last month was only the beginning for RCN, a powerful technical reversal pattern in play, filled with extreme volume and one of the best performs among the sector. The recent consolidation was as mild as it gets, given the adverse market conditions (ultra-bullish).
Now RCN is on the rise again, testing the recent highs, volume is picking up again and I'm...
As BTC and the rest of the overall market bleeds red, there are a select few gems out there signalling the brutal alt bear market may be in the accumulation phase, one potential is RCN.
Yes it is too late to call the bottom of the alt coin market, however, it is obvious that there are investors out there using this opportunity to accumulate.
Perhaps the biggest...