RavenCoin (RVNBTC) has been retracing since its October's bull run. Now, the charts are looking ready for a move up according to some early signals.
Let's take a look and open a trade.
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Here are the early signals coming from the daily chart:
RavenCoin (RVNBTC) Chart Signals
Volume has been decreasing which is indicative of an upcoming breakout based on chart structure.
RVNBTC is now trading above EMA10.
We have a bullish RSI and strong bullish divergence on both MACD and RSI. There is a bullish crossover on the MACD as well and the histogram is turning in favor of the bulls.
These are early signals as there is no volume to back them up nor a strong breakout. So please be aware that it can easily breakdown, and that is why we use a stop loss.
This will be a medium risk...
Now, let's get started with this trade.
RavenCoin (RVNBTC) Trade Instructions by Alan Masters
Buy in: 0.00000355 - 0.00000375
Targets:
(1) 0.00000405 (2) 0.00000450 (3) 0.00000525
Stop loss: Close daily below 0.00000300.
Capital allocation: <10%.
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