RVNUSDT (RAVENCOIN) - POTENTIAL BREAKOUT ANALYSIS 🔎
- RVNUSDT is printing a falling wedge (FW) pattern.
- A falling wedge pattern is a reversal pattern.
- A bullish pattern to be precise.
- RSI is printing a bullish divergence signal (BDS).
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the falling wedge's resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
SETUP INVALIDATION ❌
- Breakdown below the falling wedge's support.
RVNUSDT
RVN/USD - Bullish price action re-testing ATH resistance!Raven is posing for a new attempt to set a new ATH. Volume is up, MACD crossed on the positive side, RSI is going up... yep, we're looking bullish.
If we manage to crush the $0.30 resistance level, we will have confirmation and we're going to go back into price discovery.
For this reason I am quite bullish on Raven which has performed very well and this consolidation in this zone is very healthy for a new push higher.
I think Raven can easily double once we enter price discovery as on the BTC pair we have still a long way to go up before we reach ATH... this is good.
Watch the levels on the chart. A break of resistance will confirm this move.
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Trampoline to the sky?!🪂Last for today, wolves🔥
There is one more interesting formation on RVNUSDT.
Symmetrical triangle with previous bullish sentiment.
According to Elliott Waves theory all the waves are done and now the price is heading to the breakout.
So follow the chart and look for the breakout carefully.
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And always remember: "we don't predict, we react".
RVNUSDT 4H Long setup; Bullflag after breakout of desc trendlineTA Explained
RVNUSDT did a full pullback to the fib 0.728 level as can be seen in the below snapshot:
After breaking the descending trenline, a bullflag is being formed, about to break out. However one more dip could be expected as well, which would give the second entry for this setup.
Trade setup
Best entries: 0.14991 -0.16440
TP1: 0.19931
TP2: 0.22581
TP3: 0.26428
SL: 0.12785
RR: 3.61
Max leverage: 1x
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Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)