RLC undervalued and ready to goRLC has been in a down-trend for a long time. But it has been looking to break that pattern a couple of times! We can expect at least a small run to the upper side of the channel and indicated targets. This is confirmed by Phoenix and cloud movement. If we manage to break the larger picture and resistance we can see over a short-mid term 1x-2x profit levels. Goodluck
RLCBTC
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TA-wise, big picture is still hard to see, but i think RLC did find its bottom and since hitting that, it have been gathering some volume and momentum to build a bullish movement to critical area where it is going hit the old resistance and support zones. First target in the critical area. Second target in the old ATH.
RLC-BTC Near The Suppor Line In The ChannelBlue lines: Resistant lines
Red lines: Support lines
Green lines: Trend lines
Comment:
After touching support line of the channel, it bounce up very quickly and reached the resistance line several times.
This time I expect similar movement in the channel as well.
Good luck.
