RVNbuy:
281~294
target 1 :
290
target 2 :
297
target 3:
302
target 4 :
307
target 5 :
314
target 6:
323
target 7 :
334
target 8 :
348
stop : 270
Rvnlong
RVN/BTC FALLING WEDGE?Good morning! RVN has been a coin i have been keeping my eye on for a while. Price action is very much slow and little volatility going for it, maybe because we are at the end of the falling wedge that has been forming?
To be a valid, both the resistance and the support line need to have a “steep” down slope. The price should be narrowing into a tight range.
The pattern ends often with a strong breakout. Be aware though that the support and resistance won’t always meet before the breakout takes place.
The continuation falling wedge is similar in shape to the pennant. Unlike a pennant, the wedge doesn’t need to exist on a flagpole. By convention shorter duration wedge patterns are usually classed pennants rather than wedges. The “falling” pennant and the falling wedge are traded the same – as buy signals.
If the falling wedge scenario does play out to the upside, i have set 3 targets for myself and to anyone interested in this coin. Price volatility for this coin could come soon, or, it will slowly rise in price as BTC moves sideways. I could be wrong, but i have a bullish feel about this project.
Stochastic RSI on the daily is showing that it has room to push upwards, that is if, BTC doesn't ruin the party. Set stop losses at the risk you're willing to take.
Have a good Thursday and a good day! Trade safe!
Target 1: 544 - 570
Target 2: 625 - 651
Target 3: 793 - 813
