RLC breaks strong resistance, could go up higherBINANCE:RLCBTC
RLC has high chance of breaking out strong resistance of last month, facing first Fib. local resistance.
TRIX + MA/TRIX indicator (see link below) pointed out good trend for RLC, strengthen bullish sign.
On overall RLC is good to invest for short-term profit (this week).
Details are as shown in chart.
RLCBTC
rlcbtc about to break???What we see on the daily chart:
- 650 seems to be the bottom so far after this big retracement
- volume coming in, buyers stepping up? Tight candles suggest there still are some sellers left, but it looks like an area where buyers might step up big time and sellers run out, but we need to keep in mind btc is still the boss here
-RLC likes to move fast , I would trade this of the daily and aim for a 20-30% move
- also RSI bottomed
shitcoins are the means to the end of more ZEC / BSVCZ doesn't understand how bitcoin works (imagine rolling back an immutable chain because you dun goofed LOL) and Binance will probably go bankrupt because CZ doesn't understand Bitcoin. In the meantime, cop some RLC after deposits and withdrawals open back up next week. This play will take some time for the entry to trigger break and retest of (.828 usd). I don't like trading shitcoins against BTC right now. All my successful plays have been on dollar pairs. Keep making $ to slowly accumulate ZEC and BSV. Long term, I'm working towards 50% ZEC /50% BSV as my sole crypto holdings after my shitcoins make a move.
RLC-BTC Long Trade PlanCommodity : iEXECRLC
Trade Type : LONG
Trading Against : BITCOIN
Entries : Double-UP Entries throughout the Buy Zone
Profit Taking : 25% at each TP point.
Profit Locking : Move SL to break even once TP1 is hit, to TP1 once TP2 hits, to TP2 once TP3 hits and so on
Duration - 1-2 weeks
Investment in trade : 3% of the total Trading Balance.
Prospective Profit : 12% to 43%
Prospective Loss : 7%
RRR : Between 1.6 and 5.66 depending on TPs
Buy Zone/TPs/SL price points are marked in the chart as follows
Greens - Profit Targets (TPs)
Blue - Buy Zone (Entries)
Red - Stop Loss (SL)
RLCBTC iEXEC algo targetRLC iEXEC
- RSI bullish hidden divergence on all TF's
- Double bottom (bottom)
- Previous fib algo target reached, now moving up
- Perfect pitchfork
- Broke this little wedge / flag or trying
Risk:
- Inside bearish pitchfork near top channel (last resistance of pitchfork) - here you have your first take profit zone - bottom box - 0.382 fib.
How you could trade this one?
1) Enter between 539 and 550 SATS with stop-loss below last lower high.
2) Wait for confirmation break the of the flag (not bold line on top of price)
3) Wait to cross and find support on 0.236 or break of the pitchfork.
Take profit zones are rectangular boxes.