RCN - Bullish reversal pennant patternThis 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 and steady.
This is a high risk play - but I felt enough confident to build up a heavy position in RCN.
Go big or go home.
RCN
RCN/BTC buy opportunityHi 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!
❗❗❗
Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only!
RCN Trend ReversalRCN / 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 would appreciate some FA to back up my analysis.
It is quite a low risk play imo.
Comments are welcome :)
🆓Ripio Credit Network/BTC Analysis (24/3) #RCN $RCNRCN 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"
RCNBTCIt 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 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 at support, Good setup for buyingRCN 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
RCNBTC (RIPIO CREDIT NETWORK) - DAILY ANALYSIS ANALYSIS 🔎
- RCNBTC printed a falling wedge pattern.
- A falling wedge pattern is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance.
- Price action is printing a triangular consolidation pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the triangular pattern's inclined resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
- Horizontal resistance level (R4).
SETUP INVALIDATION ❌
- Breakdown below the triangular pattern's inclined support.
💎RCN- getting ready for a MASSIVE move 🚀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
RCNBTCYesterday I marked this to make an idea for it and now It has gone half of the way up
Unlike the past spikes, It has come to this point by leaving multiple candles on the way so I hope it doesn't stop or come back down
Ripio Credit Network (RCN) Long-Term After 950% WaveThis is the long-term chart for RCNBTC (Ripio Credit Network).
The last bullish wave went on for 950%, quite huge if you ask me... (This is illustrated on the chart)
A new bullish wave will start to take place now that a higher low is forming.
This new wave can go for 500% or much, much more.
This is a very strong altcoin pair because it remains on higher lows rather than printing new lows.
Many altcoins went lower and hit new lows in 2020 but not Ripio Credit Network.
We are very likely to be looking at bottom prices... This can move within just a few weeks and grow for many months.
I hope you enjoy the chart.
Namaste.
Another Bullish Signal For Ripio Credit Network (RCN)Just recently we looked at Ripio Credit Network (RCNBTC) and its bullish potential, the chart is shared below (Oct. 10):
Now, we have an even higher volume for RCNBTC compared to our last analysis, in fact, we have the biggest daily volume since September 2019, this is a strong signal.
So we got a breakout signal on the 10-Oct. and today we get another signal as confirmation and continuation of the initial bullish.
We are very likely to see strong growth coming for this altcoin pair.
Namaste.
Ripio Credit Network High Volume Bounce (Easy 44%)Today's candle for RCNBTC is showing really high volume, signaling that this current move is the real deal... We can see additional growth.
There is bullish divergence on the MACD and a very strong RSI... We have 44% mapped on this chart.
Additionally, we see RCNBTC trading above EMA50 (magenta line).
Staying above this level would signal additional strength.
Namaste.
Potential up trend continuationRCNBTC recently broke out of downtrend and is now trying to establish clear resumption from recent falls.
Stochastic RSI near 25.
RSI in grow move.
Price one more time uses MA 25 as trend line support.
First target 700 sat, next 830 sat. Be careful when price drops down below 570! Moving on 600 sat should be a confirmation of resumption.
RCNBTCI have been waiting for RCN for a long time to reach this situation. You can enter this trade and gain some profit.
ATTENTION: Targets are for short, medium, and long term!!
RCN(Ripio credit network) Has huge potential for adaption!!!
Ripio Credit Network connects lenders and borrows in a decentralized, P2P manner. It looks to extend credit to those who can’t access traditional banking services.
This past month, Ripio updated its smart contracts to remain compatible with the liquidity protocol Uniswap. Uniswap will help Ripio users find liquidity when needed.
Looking forward, the team is testing collateral-backed loans. We look forward to learning more about these loan offerings. In the meantime, Ripio continues to progress, improving usability and offerings for its 450,000 users across its app, exchange, and credit marketplace.
