RVNBTC trade ideas
Raven coin is now cheaper vs BTC than at launch!Raven coin looks to have bottomed vs BTC on the RSI and price. It has since bounced in price and looks like it's gaining that long awaited moment. This move could be the next XRP style move that could catch many surprise. 10x is definitely in the cards possibly more.
Always trade at own risk. Not financial advice.
RVN slow and easy move!With a lot of correction I am bullish on this coin. it has shown us before that has an unpredictable manner. RSI dipped enough and MACD is turning into green. so I expect that it must touch the edge of KOMO cloud. candles got very far away from the cloud an it must get itself to the edge. so it must go up to the range 250-260 in few weeks.
RVNBTC - Explosive Breakout ComingBINANCE:RVNBTC
Expecting an explosive breakout for RVN very soon. RSI and Stoch both very oversold.
Very good reversal candle formed last week and looks ready to breakout the falling wedge pattern which is the same pattern as its last breakout which occurred in early 2019.
Raven going the way of the Dodo?This is not financial advice. These are my thoughts written out to help my own trading decisions. Do your own due diligence.
I've been studying the different coins that have been delisted in the past by Binance. Some signs that typically point towards a delisting seem to be:
1. precipitous drop in trading volume and sustained periods of low volume and liquidity.
You can see a consistent drop in volume since the March 2019 pump. A 94% drop from the top to where we are now. Binance makes their money through trading fees. The coin has also spent the majority of it's existence below the 50 ma in volume. Binance is constantly balancing the risk of hacks, regulatory issues, etc...against the reward of how much they earn through trading fees. With that in mind, how does Binance's interest square with how this coin has performed for them? Less volume = less fees earned.
2. order book action. Are the market maker's manipulating the price to accumulate or distribute their positions? What is the trade history. What is price that is actually being bought and sold?
Market makers appear to be exiting their positions in a controlled manner. When observing the price action there are more large sell orders that come through followed by small buy orders to maintain the price. Buy walls appear to backfill and act like support. Yet the price is continuing to drop. Do they know something?
3. the coin's community interest, support, and ability to address issues.
Unaddressed inflation event due to an exploit that occurred in July that allowed for hackers to mint 6 million RVN. The inflation event caused an increase of 1.5% of maximum supply and a 5% increase of current supply. So far the creators, and community, are at odds on how to address this. These points lead to an, "(un)* healthy, sustainable blockchain and cryptocurrency ecosystem ".
These factors lead me to believe that delisting is possible and likely to happen in the near future.
RVN/BTC (Strong Downtrend) 💎Technical Analysis Summary💎
BINANCE: RVNBTC
-Ravencoin is on a strong downtrend movement for the past months
-At the moment, the price has reached the 1.618 Fib reverse support
-It might be a good buy zone for long term investors
-But for traders who are just looking for a swing position
-They wait for proper confirmation or Bullish signs
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RVN looking ready to popI'm sure if you're reading this, you either hold raven, or you've been watching it's chart, wondering when this down trend is going to end. Well, it seems it's close to the end of its formation. Will it happen? The chart looks good, and if history repeats itself, it could be in for some really nice gains. It's currently oversold on the daily, and very oversold on the weekly. It's also completing a fractal of it's previous run up. This one requires patience, but I believe the reward will far outweigh the short term price action to the downside.
RVN/BTC 1D (Binance Spot) Falling wedge breakout & on support#Ravencoin has been retracing for a long time now, a move up seems to be coming!
Since it broke out already and it's on big descending channel support, that looks like a good buy zone.
Current Price= 0.00000115
Buy Entry= 0.00000116 - 0.00000110
Take Profit= 0.00000128 | 0.00000144 | 0.00000162
Stop Loss= 0.00000098
Risk/Reward= 1:1 | 1:2.07 | 1:3.27
Expected Profit= +13.27% | +27.43% | +43.36%
Possible Loss= -13.27%
Fib. Retracement= 0.236| 0.5 | 0.786
Margin Leverage= 1x | 3x | 5x
Estimated Gain-time= 2400h