Updated
RCN-BTC main net launch soon and moon.
Hello friends, welcome to this analysis on RCN.
This analysis will be mostly based on fundamentals, RCN has their main net launch at 30th of April.
We could see most of the coins moon shot before their main net launch, but remember we wanna buy the hype and sell the news. we wanna be smart money! so basically we wanna sell before 1 day before 30th of April.
As you can see it in one hour chart it has made a rounding bottom and sitting on a support at 1660 sats. it can be a good buy point with a stop loss below the support line. Above us, we have 2 resistants at 1900 and 2150 sats that you can take profits at those resistants. The box area is going to be a heavy resistant zone duo to it having a lot of bag holders I assume, so play it carefully there if we managed to get to that zone.
Also, we can see that the 50 days ema has turned to the upside and wants to cross the 100 days ema which is a bullish sign and the cross on the MACD makes me believe that we have the potential to reach the all-time high area and make a huge cup, but its too early to confirm that!
good luck trading ;).
This analysis will be mostly based on fundamentals, RCN has their main net launch at 30th of April.
We could see most of the coins moon shot before their main net launch, but remember we wanna buy the hype and sell the news. we wanna be smart money! so basically we wanna sell before 1 day before 30th of April.
As you can see it in one hour chart it has made a rounding bottom and sitting on a support at 1660 sats. it can be a good buy point with a stop loss below the support line. Above us, we have 2 resistants at 1900 and 2150 sats that you can take profits at those resistants. The box area is going to be a heavy resistant zone duo to it having a lot of bag holders I assume, so play it carefully there if we managed to get to that zone.
Also, we can see that the 50 days ema has turned to the upside and wants to cross the 100 days ema which is a bullish sign and the cross on the MACD makes me believe that we have the potential to reach the all-time high area and make a huge cup, but its too early to confirm that!
good luck trading ;).
Note
pulled down a little bit, but we are fine as far as we keep the green support, the next support below the green one is the yellow uptrend line.Note
Note
we are good on this trade, we need more volume that hopefully will come soon when we get closer to the main net launch.that long wick and big volume is a whale footprint ;)
we gonna keep this trade open until 30th of April.
Note
someone commented if I research before I post stuff. :) yes, I do,
you should research as well before trolling. you can check their twitter.
they gonna have announcements and partnership coming soon
however the fact that we are close to 30 April and we didn't move up so far.
shows me that this coin is not really favorable in the market.
Note
what I'm saying here is not a financial advice, it's just an idea. you should do your own research. And as I always say you should have tight-stop losses :).anyways, its still up trending just needs more volume.
Note
dady no like, this trade is closed. and added to my sh*t coins list :/
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.