Raven
Potential Harmonic Plot for RVN - New to HarmonicsYes, this is neutral, I'm plotting points that don't exist yet.
Neutral until point C is confirmed at the .886 RT
Pink trend lines show confluence for the 1.618 RT from point A-D pivot point
3 targets placed with fib plotted for reasons why (.382 for minor RT, .618 golden zone RT, 1.618 ultimate bullish gartley target)
Time will tell...
RVN/BTC: Chart updateAdded some RVN yesterday at 343 sats, as that has been a good place to get some bids filled as of recently.
Looks like support around the 350 area is potentially getting weak, but I am hopeful we may see a bounce here soon. I am long on RVN as it is a project that I like fundamentally, and I am hoping to make a mid-term flip here.
Weary of Bitcoin's recent weakness it has been showing in the market, if Bitcoin broke down further it would likely drag alts down accordingly with it, so I am weary of that for altcoin trades as of right now.
Looking to lower support areas I would find one around 300-310 sats, but RVN has not reached those levels since October of 18'
There has been some small talk on twitter about RVN, as there is a relatively strong community behind the project. I like the price points here, a fine place to average some in, but by no means a place to go all in.
No longer posting links in trading view descriptions, but you can find my twitter in my trading view profile bio. I have a discord group which can be found on my twitter.
Disclaimer: I am not a financial advisor, and this should not be considered in any way finance advice. Never invest more than you can afford to lose. I am just a Dragon.
RVN near the bottomActually RVN formed similar chart to many alts - parallel channel where the price is currently almost at the bottom. For us it means that next BTC move will do the move for all. If it go up most of alts will fly to upper channel with possible breakout. But that is a long way from now. So far I am waiting for it at 370-375 support zone and keep faith in BTC and future targets at 410, 425 and so on.
Bad thing about that setup is that support at 370 was tested already 4 timed at four hour chart and it makes it pretty weak. So in case BTC will be dumped there is no chance it will hold. Put SL below 365.
Trade on your own risk.