RSR certainly has a lot of news that looks bullish now. Seems Greyscale have been accumulating a very large bag, mainnet is apparently around the corner with good adoption in South America, and the Coinbase would most likely follow.
Chart looks good as well although short term, I'm expecting a pullback as the RSI looks a like H&S. So an RSI reset to around 50 as well as retest of the previous resistance could be a good a good launch point for the next leg up.
If BTC pumps though, could certainly see this 0.043 resistance get flipped to support without the restest.
Chart looks good as well although short term, I'm expecting a pullback as the RSI looks a like H&S. So an RSI reset to around 50 as well as retest of the previous resistance could be a good a good launch point for the next leg up.
If BTC pumps though, could certainly see this 0.043 resistance get flipped to support without the restest.
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Got to love it when a plan comes together. Didn't get the dip expected but did get the flip and then some
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RSRBTC needs to flip 110 and then on to red box, which should coincide with blue box on USD pair.
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So rising broadening wedges like this are usually bearish. As I'm still bullish overall, I'll go with what one of my favorites from crypto twitter:
"The best bullish setups are failed bearish setups.
The best bearish setups are failed bullish setups."
@cryptocred
Be careful if this does breakdown though
"The best bullish setups are failed bearish setups.
The best bearish setups are failed bullish setups."
@cryptocred
Be careful if this does breakdown though
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RSR playing with my emotions as usual:
Looming head and shoulders so need a good move up to invalidate and get things rolling again.
Looming head and shoulders so need a good move up to invalidate and get things rolling again.
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RSR taking its time as usual. Good news is that H&S seems to be invalidated, as well as a bull flag forming.
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BTC pair compressing quite a bit on support, if it fails a couple of levels of interest.
USD pair also looking weak and may test trendline again which would be an important hold for me
USD pair also looking weak and may test trendline again which would be an important hold for me
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RSR always exaggerates every drop. I'll say I've been a long time holder, since week 1, but since the last run, RSR has not performed as other alts have considering the fundamentals behind the project. Regardless of the reasons behind the dump, this was coming, especially the BTC pair was showing weakness. So a small fakeout to the upside and then the drop that just happened. Lookin for the USD pair to close inside the channel and for BTC to recover as I do think it may have bottomed here. Worth keeping an eye on though as it's definitely not the comfortable hold most of us probably hoped for.