A trade I will be looking to take if the scenario plays, break below the range, fake breakout and range recover, and I will be a buyer at the retest of the range lows. Similar to what happened from march to jun 2020 (orange box).
As we can see :
- major support
- bottom flat triangle
- pullback at support line
So we have a pullback from current support lane,
We expect some upward movement till triangle top lane !
If RLC reject from triangle then we have to see a retest from current support,
If RLC break triangle, then we will higher mounts to recent...
Currently RLCBTC is gaining a lot of momentum.
RLCBTC has tested the 100 SMA quite extensively over the last month. After it broke out downward of the Ichimoku cloud beginning of september we were negative on the performance of iExec. But the SMA 100 was succesfully tested.
Potential MACD crossover coming up
A bullish crossover occurs when the MACD...
-The price retested the previous support area
-A good bounce happened and will likely retest the trendline resistance
-The 8400 sat range is a strong confluence of previous resistance turned support
-How do you trade this market situation?
-Buy at key support with a tight stop loss and target the trendline resistance
-2nd is to buy the breakout of...
RLC forming a wedge within the normal crypto-moon formation (look up broadening triangle).
Expecting this to take breakout, reach the upper bound, bull trap, retest bottom, before really taking off if the crypto alt season restarts later this year.