Long
Raiden Network (RDN) is going to boom. first target at +400%
Updated
RDN has been moving in a very low area of the chart for the last 2 years and a half, and we can read several trend inversion signals from the weekly chart and other timeframes.
-huge descending wedge formed and now price is challenging the upper resistance for the third time, expected breakout
-volume raising (bullish divergence) with some green peaks
-new all time low set
-all main moving averages are going to be retested for the third time.
When price will be able to break them, we will see a big jump, at least at 6000 sat where 200 weekly MA sits.
Target for this action is top of wedge - around 10000 sat.
cheers,
Baked Finance
this post is for educational purposes and not financial advice. do your own research first.
-huge descending wedge formed and now price is challenging the upper resistance for the third time, expected breakout
-volume raising (bullish divergence) with some green peaks
-new all time low set
-all main moving averages are going to be retested for the third time.
When price will be able to break them, we will see a big jump, at least at 6000 sat where 200 weekly MA sits.
Target for this action is top of wedge - around 10000 sat.
cheers,
Baked Finance
this post is for educational purposes and not financial advice. do your own research first.
Note
Update:-price is confirming reversal
-wedge breakout is close
you can place a worst-case stop loss above your entry price and start to enjoy profits.
cheers!
Trade active
BTC strenght caused RDN to fight a bit more with resistances, trade is still open and looking good
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.