REQ has grown by 85%!Hello to all members of TradingView and my followers.
REQ has grown by 85%. REQ, which is fluctuating in a downtrend channel, started a positive reaction after hitting the bottom of the channel, and buyer support has pushed the price back to near the bottom of the downtrend channel. The resistance, which is in the range of $ 0.145 to $ 0.160, has so far been met with a negative reaction.
But the point is that there is a possibility that the price trend will range in the upper half of the bearish channel. Because the current resistance is close to the main resistance, which is at $ 0.2, the possibility of another uptrend after the price correction is high. The most important current support ranges from $ 0.10 to $ 0.11.
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REQUSDT trade ideas
REQ: timing the shortI eyed REQ last night, usually after a big green candle with a long upper wick I expect a shooting star like this one it's forming right now and eventually an hanging man (tomorrow?) although it's also possible to see a direct reversal tomorrow.
At 1h RSI has the typical pattern of when reversal has started but at 4h it's still ok as the higher peak corresponds with the higher price:
When I compare 1h to the 4h it's when I get confused the most as 1h looks like it'll dip further but it's the 4h that has to close like this or lower for a valid sign of reversal. So this makes me uncertain on whether I should enter, right away or after the 4h confirmation. I think I'll wait the 4h risking to lose the train though.
My hypothetical targets if I enter is on the chart but in case I change the I'll update the signal
Good luck
REQ is setting up for a big moveAs you can see white MA is holding price pretty nicely and it is starting to curving up - this is basically accumulation before the pump. If white MA will not hold, there can be more downside... this is high risk but high reward - R:R ratio 10. Good luck
NOT A FINANCIAL ADVICE
REQUSDTHello Crypto Lovers,
Mars Signals team wishes you high profits.
We are in the daily time frame. The price has been supported at the support zone several times. The price has broken the resistance line but the long shadows show that the selling pressure is high. It might make a pullback. If the support is broken, it will move further down. The price might range between the resistance and support zones before starting a new trend.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Wish you luck