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iExec RLC / Bitcoin

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RLCBTC trade ideas

SoT 2.0 Chartoff May, Week 3We’re looking at RLC this week. RLC was one of the first coins to show a nice move up after Binance reopening and more alts recovering (recovery was not because of Binance reopening, just happened at about the same time). In the move up today, RLC first stopped right on the daily level at 1047. After that, it retraced a little bit and then it tried to push for the daily downtrend and the daily level at 1130 but failed. I think it failed partially because BTC showed some strong signs at the same time. On the 12th of May, RLC also started a move up which ended at the first daily level of 1047. After that, RLC retraced and the start of the uptrend before RLC had it’s first move today was the 830 level. These moves up created an uptrend on which I’m looking to buy. Currently the uptrend is at the 845 level which is where I would take entry. I actually missed an opportunity to enter when I was still charting. If it does come down to the trendline again, I will update the price I bought at in the comments. I’m putting a staploss at 825, which is slightly below the 4 hourly level that started today’s uptrend. If it breaks that, I’m looking for an exit. My target would be at 1040, which is just a few sats below the daily level. BTW: I only added the relevant levels at the moment so no monthlies in here.
Long
by UnknownUnicorn4256452
1
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)
Long
by CryptoTherapist
1