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RCNETH

RCN/BTC (Test Major Support?)💎Technical Analysis Summary💎 BINANCE: RCNBTC -Ripio Credit Network is approaching major support area -This zone is a confluence of previous multiple support -If you want to buy this crypto coin -Be patient and wait for the price touches key areas -Also, wait for proper confirmation like reversal patterns, RSI divergence, etc. -Because this will help you, in the long run, to be profitable -And you can place a pre-defined risk level every trade `````````````````````````````````````````````` Trading Involves High Risk Not Financial Advice Please Exercise Risk Management `````````````````````````````````````````````` If You Like My Daily Published Ideas A little Help By Supporting My Channel Through Leaving A Thumbs Up, Comment & Follow Happy Trading! --> Thank You! :) ``````````````````````````````````````````````
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by PolarHusk
10
RCN/BTC (Healthy Pullback?)RCN/BTC -The trendline resistance is broken last August 13 -The price today is pulling back to 600 sat area -Which is a previous resistance turned support -This pullback is healthy provided 600 sat will hold -If it manages to keep alive in the new few days -Chances of continuing higher are possible -Potential may reach up to 950 sat area -We all wish Bitcoin to move sideways in the coming weeks -This will eventually help most Altcoins to recover or break higher
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by PolarHusk
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RCN/ETH Con't. - Pre-Pennant Pole Analysis. Double double tops.As always, ongoing learning! In going over the RCNETH pair, I scanned before the flag to see if there were signs showing potential movement upwards before the flag. I found what looks to be a double top along with a crossing above the signal line to indicate upwards movement. Within the pennant itself, it seems that there is what looks like a double top as well, leading me to wonder how often a double top turns into a pole or pennant. Perhaps a double bottom can turn into a bear flag or pennant?
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by Desreversti
RCN/ETH Moving Up? Pennant Pole Forming, but Heavy ResistanceThis continues to be another thought exercise for me. Hopefully it will be for you too. Any comments about my approaches are welcome as we often best see the errors in others than we do in ourselves. It seems the market sometimes speaks well to me while other times, it's a completely foreign language. Continuing the mission to dig myself out of negative holdings, I'm looking for ways to buy and sell. In looking at RCN/ETH, I noticed a flag formation forming. The last time I saw one forming, it hit about 2/3rds of the way up, so I'm planning to sell at either 2/3rds up or completely up depending on how the market is feeling. I've read that flag poles are what to look for and pennants tend to indicate a potential reversal of trend. Maybe my brain is a bit off, but I've seen pennant poles indicate upwards growth. Part of this thought exercise is to help me check my logic. TA today is based on 1 hr bands and will be noted otherwise if not. GOOD FOR UPTREND: TA that indicate yes towards an uptrend. *Pole is near completion and is well formed. *Bands indicate upward continuation with increased volume post-sqeeze. *Volume is reducing as market comes to equilibrium. *RSI is currently pointing slightly up at 62 after hitting high on pole at 70.84 *MACD is showing upwards growth. BAD FOR UPTREND TA that indicates potential issues. *Sell/Buy book 0.00032: 254,687 0.00031: 102,638 0.00030: 104,273 0.00029: 21,544 Current price: .00028379 ETH 0.00028: 18,088 0.00027: 71,581 0.00026: 34,639 0.00025: 28,329 *RSI is still higher overall at 62 with recent overall low bear-like market behavior for past several days. *MACD blue line is flatlining while signal line approaches CALCULATIONS: *Pennant pole calculation Top of pole: 0.00029420 Minus bottom of pole: 0.00024541 Equals a difference of: 0.00004879 *Sell calculation Bottom of pennant: 0.00027895 Plus pole length: 0.00004879 Equals a sell goal of: 0.00032774
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by Desreversti
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