Strong Shakeout/StopLoss-Hunt Reveals The Bottom - RSK
This is the pattern that reveals the bottom for the Altcoins (Altcoins vs Bitcoin).
We are looking at it on the RSK Infrastructure Framework (RIFBTC) chart but it is present/showing up everywhere.
This pattern is what we call a "shakeout" or a stop-loss hunt move.
The market breaks down strong below support just to move quickly back above it.
This started happening 24-Jan. and 7 days later all loses have been recovered and instead of consolidation/sideways we will see a new uptrend form.
Another detail about this pattern is the bullish divergence that always shows up long-term.
If you zoomout, you can see the higher low on the MACD and the lower low on RIFBTC.
Keep this pattern in mind when looking for new trading opportunities.
I really hope it helps.
Namaste.
We are looking at it on the RSK Infrastructure Framework (RIFBTC) chart but it is present/showing up everywhere.
This pattern is what we call a "shakeout" or a stop-loss hunt move.
The market breaks down strong below support just to move quickly back above it.
This started happening 24-Jan. and 7 days later all loses have been recovered and instead of consolidation/sideways we will see a new uptrend form.
Another detail about this pattern is the bullish divergence that always shows up long-term.
If you zoomout, you can see the higher low on the MACD and the lower low on RIFBTC.
Keep this pattern in mind when looking for new trading opportunities.
I really hope it helps.
Namaste.
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