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Rlceur

RLC/BTC (Triangle Pattern? Bearish?)BINANCE: RLCBTC -The price retested the previous support area -A good bounce happened and will likely retest the trendline resistance -The 8400 sat range is a strong confluence of previous resistance turned support -How do you trade this market situation? -Buy at key support with a tight stop loss and target the trendline resistance -2nd is to buy the breakout of the trendline resistance because it will signal a trend change -This is a high-risk trade so please use small allocation only ^Trading involves High Risk ^Not Financial Advice ^Please exercise Risk Management **If you like my daily Published Ideas **Please don't forget to leave a thumbs up & comment **Happy Trading! Thank you! :)
by PolarHusk
6
RLCBTC - Break-out moment of truth (>+100% potential)On @Alexander_AG 's request, quick post about RLCBTC: --> Classic triangle formation. Up or out. Bulls are in favour here. We are in a downward trend channel, close to be broken. --> Bullish cross in the MACD --> You can see what happened at previous bullish crosses (very positive signals) and at death crosses. --> Bullish "SMI" typically a little bit before the break-out. --> Note that this is a stock with considerable pumping & dumping, likely due to the low market cap (see the outliers, there are a lot :-) ) -->CCI oversold, trend upward (bullish) --> Divergence in Cumulative volume index versus price (bullish here) Seems like a trade with the bulls in favour of your odds. Definitely 100%+ potential if break-out upwards, given history of this crypto. Trade wisely, use stop losses if necessary. Feel free to follow on twitter (see bio) DYOR – this is not investment advice :-)
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by A_Cryptastic_Mind
2