Long
Bullish REPUSD
While the rest of the market is down today Auger is up roughly 30%. This de-correlation from BTC is a positive for REPUSD. There is a very large wick on the Daily timeframe that represents a large amount of buying. A large volume of buying like this is a positive for the long term momentum fueled by new asset inflows.
Daily candlestick close above previous Daily high = Bullish Engulfing
Bullish Engulfing = buyers are in control
Price broke out of a descending Daily timeframe Trend Line
Minor Trend Line support is drawn, Bullish structure is still being maintained around Trend Line
Stock RSI is rising which could signal momentum to the upside, not overbought at the momentum
MACD is bullish
Current market sentiment
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Daily candle close will be a key detail
Daily candlestick close above previous Daily high = Bullish Engulfing
Bullish Engulfing = buyers are in control
Price broke out of a descending Daily timeframe Trend Line
Minor Trend Line support is drawn, Bullish structure is still being maintained around Trend Line
Stock RSI is rising which could signal momentum to the upside, not overbought at the momentum
MACD is bullish
Current market sentiment
____________________________________________________________________________________________
Daily candle close will be a key detail
Note
Trend Line support is being maintainedNote
Previous Daily candle closed created a Bullish Engulfing pattern meaning buyers are in control
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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.