iExec RLC Should Resume Bullish Move Soon
Updated
If we successfully remain above the neckline, we should go for the weekly's inverted HS pattern targets at 1064 and 1490.
We nearly hit 1064 on the first move up after crossing the neckline, and then nearly lost the neckline after closing below it briefly.
There is also a golden cross on the 50/200 day EMA and this is our 2nd time approaching a cross back in the other direction, the first unsuccessful. If this 2nd attempt at a death cross is also unsuccessful, the bull case gets much stronger, and 1490 could be easily exceeded. Not pictured is the golden cross on the 50/200 day MA, which is still golden ;)
We nearly hit 1064 on the first move up after crossing the neckline, and then nearly lost the neckline after closing below it briefly.
There is also a golden cross on the 50/200 day EMA and this is our 2nd time approaching a cross back in the other direction, the first unsuccessful. If this 2nd attempt at a death cross is also unsuccessful, the bull case gets much stronger, and 1490 could be easily exceeded. Not pictured is the golden cross on the 50/200 day MA, which is still golden ;)
Note
Check out the insane OBV spike here:Note
Update - 4h chart pictured below. 50/200 EMA and MA are nearing death crosses, but we only recently saw a strong golden cross.
From that golden cross we moved above the neckline of the HS inverse. The first trip below saw a strong rejection and quickly moved back up.
We may see a strong rejection of the death crosses here as well; closing with higher lows above that neckline this time:
Note
Zoom in on the previous update from April 8th, we went slightly lower than our most recent set of lows (green box), and then saw a strong move back above them. Possible we see a move as high as the bearish MA/EMA cross here or higher and see a cross back over in the opposite direction.Still, we need to remain above the green box, and if BTC makes a really strong/sudden move in either direction, it could head down for new lows instead
Note
Update - this bit of movement here looks promising, still need to see how btcs moves affect alts here though:
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.