Request Network ( REQBTC ) Chart Analysis
- First we have a break of the (red) coming down from the 27 March high.
- This is being challenged today after a high .
- Trading is increasing to the side of the bulls.
- The is showing great momentum to the upside after a crossover.
- The is trending up and now moving above 49.
- REQBTC recently hit a new all-time low, so we are looking at really low valuation right now, or as you would say, "buying near the bottom".
Two potential scenarios are drawn on the chart, green and red arrows.
1) The GREEN scenario we move up without closing again below EMA10.
2) The RED scenario we close below EMA10 and test the last low before starting a new impulse up.
A close below 0.00000230 would be a good stop loss. we use the weekly time frame and a manual stop loss.
Thanks a lot for reading.