RCN/BTC. bullish structure formed
Updated
we are now experiencing an ascending triangular pattern in RCN.
Ascending triangles are usually a bullish sign.
price was sustained above kumo which indicates upward movement. '
MACD confirms bullish movement.
Strength index seems to be weaker than what is needed to start a bull run.
I expect a slight upward movement but we are not going to experience a massive parabolic move in the meantime.
Exit strategy should be placed based on cost averaging.
Targets: 1383,1400,1477.
movement invalidation is below 1075 sat below the kumo.
good luck to all.
Ascending triangles are usually a bullish sign.
price was sustained above kumo which indicates upward movement. '
MACD confirms bullish movement.
Strength index seems to be weaker than what is needed to start a bull run.
I expect a slight upward movement but we are not going to experience a massive parabolic move in the meantime.
Exit strategy should be placed based on cost averaging.
Targets: 1383,1400,1477.
movement invalidation is below 1075 sat below the kumo.
good luck to all.
Trade closed: target reached
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