Long
RCN/BTC. History repeating itself?
Updated
After recent parabolic move already anticipated before, we find ourselves in a position where we want to find a good entry to stay in the game.
Studying this short market history, we can see previous parabolic move repeating itself with the same angle. coincidence?
I am very bullish long term on RCN, so in my opinion long term hold would be the best option. but there is also trading opportunities in this market.
I have 2 scenarios for you today and what to do in both cases:
#1 Most likely, I expect RCN to retrace back to 1226 sat support zone before making the second bull run.
Reasons: RSI seems to be overbought, MACD is currently showing trend reversal and History always repeats itself in these markets.
What to do? Wait for the perfect entry at 1226 sat, exit using capital management at 1320,1362,1422. A good 16% profit.
#2 less likely, RCN continues its uptrend.
What to do? enter markets after 1362 sat resistance is broke. (wait for a full candle to break) place a stop loss under 1320 support. use capital management to exit at
1422,1498,1550. A good 17% profit.
If you like these posts, please comment with any crypto you need me to analyse in comments section below. good luck to all
Studying this short market history, we can see previous parabolic move repeating itself with the same angle. coincidence?
I am very bullish long term on RCN, so in my opinion long term hold would be the best option. but there is also trading opportunities in this market.
I have 2 scenarios for you today and what to do in both cases:
#1 Most likely, I expect RCN to retrace back to 1226 sat support zone before making the second bull run.
Reasons: RSI seems to be overbought, MACD is currently showing trend reversal and History always repeats itself in these markets.
What to do? Wait for the perfect entry at 1226 sat, exit using capital management at 1320,1362,1422. A good 16% profit.
#2 less likely, RCN continues its uptrend.
What to do? enter markets after 1362 sat resistance is broke. (wait for a full candle to break) place a stop loss under 1320 support. use capital management to exit at
1422,1498,1550. A good 17% profit.
If you like these posts, please comment with any crypto you need me to analyse in comments section below. good luck to all
Note
Price broke the uptrend line.we are most likely to see support at 1226 sat (scenario #1)
Note
dont forget, always wait for a green candle confirming uptrend above 1226 sat.Take care because this may go down to 1180 below the kumo
Trade active
Hold on to your seat belts. it's going to be a bumpy ride to targetsTrade closed: target reached
target 1 reached. congrats to all followers. cash part of your position and wait for target 2Trade active
Note
For those who cashed out target 1, you can always buy the 1226 sat dip. Use capital managment in your trading and you will be fine. Congrats to allTrade closed: target reached
Target 2 reached. Wait for target 3. Today was a very good trade in rcn. If you are following these posts you should be at a 32% profit by now. Congratulations to all.Please leave your comments if you like me to add any other token to my watchlist
Trade active
Trade closed: target reached
Congrats to all. Last target reached. 1422 sat.Dont forget to leave some rcn behind when you exit and we will look for another entry. If you like my posts please hit the like button and send me your comments on any ideas how to make my posts better. See you next trade
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