RSR Entering Accumulation Period In Bull Market Volatility
Hello again everyone.
I have been busy with other personal endeavours but I am back to share my perspective on RSR and other projects with real world use cases and increasing adoption rates that are currently undervalued.
Well, the strategy has so far proved a 100% track record and it remains unbeaten.
The downward move in BTC from 29, XXX to the mid 2X,XXX was telegraphed. In a later post I speculated wether BTC had the strength to move towards 4X,XXX but the strategy proved to have the edge over the market.
Similarly, we saw BTC.D decline and regain strength in the last couple of days / weeks.
Check the level in my BTC.D post and be ready for the move.
It is possible that we see a further downtrend and that the strength in the market could disappear. As always I advise you to have a registered financial advisor in your circle providing you with safe investment strategies.
In my perspective the digital asset market is healthy and has many reasons to gain further strength as global confidence in the fiat system declines.
With the formalities out of the way, let's get into some analysis on RSR.
In my previous post on RSR I wished you patience and I hope you are slowly attaining the virtue. As my close friend said "This is a marathon, not a race" and that statement has proven true time after time.
Indeed RSR sliced through the EMA's on the daily chart but failed to break through the major line of resistance represented by the blue EMA. The broader market also reached a major point of resistance and as a result we saw a strong reaction that pushed RSR back to all time lows.
A few days ago RSR once again attempted to break through this major resistance and it was unable to break through.
RSR is now displaying a great deal of strength at the sub x.xx2 level and I am patiently watching how the next attempt to break through this major resistance will unfold.
I am expecting high levels of volatility as the broader market will also undergo a change of market momentum if the break is successful.
As such we can expect short lived and highly volatile moves.
My first major target is the daily SMA at 365 since the pattern we are attempting to break has formed over a 365 day period. The next target for the new range is x.xx7
Manage your expectations and execute on your strategy.
Win, share, educate.
I have been busy with other personal endeavours but I am back to share my perspective on RSR and other projects with real world use cases and increasing adoption rates that are currently undervalued.
Well, the strategy has so far proved a 100% track record and it remains unbeaten.
The downward move in BTC from 29, XXX to the mid 2X,XXX was telegraphed. In a later post I speculated wether BTC had the strength to move towards 4X,XXX but the strategy proved to have the edge over the market.
Similarly, we saw BTC.D decline and regain strength in the last couple of days / weeks.
Check the level in my BTC.D post and be ready for the move.
It is possible that we see a further downtrend and that the strength in the market could disappear. As always I advise you to have a registered financial advisor in your circle providing you with safe investment strategies.
In my perspective the digital asset market is healthy and has many reasons to gain further strength as global confidence in the fiat system declines.
With the formalities out of the way, let's get into some analysis on RSR.
In my previous post on RSR I wished you patience and I hope you are slowly attaining the virtue. As my close friend said "This is a marathon, not a race" and that statement has proven true time after time.
Indeed RSR sliced through the EMA's on the daily chart but failed to break through the major line of resistance represented by the blue EMA. The broader market also reached a major point of resistance and as a result we saw a strong reaction that pushed RSR back to all time lows.
A few days ago RSR once again attempted to break through this major resistance and it was unable to break through.
RSR is now displaying a great deal of strength at the sub x.xx2 level and I am patiently watching how the next attempt to break through this major resistance will unfold.
I am expecting high levels of volatility as the broader market will also undergo a change of market momentum if the break is successful.
As such we can expect short lived and highly volatile moves.
My first major target is the daily SMA at 365 since the pattern we are attempting to break has formed over a 365 day period. The next target for the new range is x.xx7
Manage your expectations and execute on your strategy.
Win, share, educate.
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.