$RKT about to take off

is coiling up, getting ready for a move, and in my opinion is forming a descending triangle, which are typically bullish patterns. The 1 hr also shows a bullish divergence on the RSI, the volume is also dying down, but continuing to go down which is a bullish divergence as well.

On the daily price looks to be forming and even greater coil meaning an even bigger move. But for the 1hr targets I'm aiming for the POC / Median of channel @ $21.50 - $22 and a 2nd target which is the grey box area.

Note

Price looks to have founds support on the blue trend line, which has shown in the past to be pretty strong. Could be a good entry point.

Note

So price bounced off the blue trend line as expected, and now we are at a big resistance area. Bulls need to step in and push us above the trend line (a daily close above $20.50 is ideal) or else sellers are gonna sell and we go back to the blue trend line to test support again

Trade closed: target reached

Price gapped up after earnings. Trade targets hit $

Yung_Crypt0

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.