This is what I see for Ripio Credit Network (see also my latest post on RCN): a bullish reversal pennant pattern.
Price is soon to break out of the simmetrical triangle forming under the flagpole that corresponds to the recent panic sell-off (Binance delisting and other delistings).
OBV on balance volume, after making a deep all time low, is ticking up strong...
Hi followers, hope you are doing well,
RCN/BTC completed 3 wave corrective structure that stopped on previous support area,
Now after formation of higher low and nice flag, we maybe ready to go higher.
Don't forget to manage your risk! 👌
Good luck and trade with care 🙏
If you like my ideas - 👍 Like, 👆 follow and 👉 share!
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Disclaimer: This information is...
RCN / BTC (WEEKLY)
We clearly see a double bottom pattern has formed off the weekly chart of Ripio Credit Network, which after a long down trend it surely indicate a reversal.
Now it has broken up a past resistance that I wish to see it tested as a support to validate it around 280 sats.
I believe it has a big room to grow, I still am analyzing based on TA and...
RCN has just conquered the 220sts zone and is ready to move up to 350sts or even 600sts in April.
📈BUY
-Buy: 210-230sts. SL if B
-Buy: 340-360sts if A. SL if B
📉SELL
-Sell: 340-360sts. SL if A
-Sell: 590-610sts. SL if A
♻️BACK-UP
-Buy: 145-155sts. SL if B
❓Details
Condition A : "If 1D candle closes ABOVE this zone"
Condition B : "If 1D candle closes BELOW this zone"
It has rejected one time by daily MA200, seems it's going for another try. On 2h chart it has come back above MA200
Not financial advice, do your research
RCN towards BTC seems to have found a good support whose resistance is very important, towards USD it seems to me well set for a continuation of the positive trend
RCN is tested the major support zone and bounced exactly from there. RCN is a DeFi coin and many new updates are coming. We may see a good move in RCN in the coming days. This is a good setup for buying.
Buy Zone: 140-145
Target: 163-170-192-207-220-235-245-258
RCN is shaping up for a huge breakout on btc pairing. Volume rapidly building after a clear pump earlier got rejected into a retrace. this is prime launch material here.
RSI has loads and headroom and momentum indicators are all very strong.
I expect massive headroom from here out as alt season develops fully
