RLCUSDT trade ideas
🆓iExec RLC (RLC) Mar-07 #RLC $RLC
After RLC broke out of the $1.6 zone, buying pressure came back strongly and RLC rallied to the $2 zone shortly after. This is a sign that the $1.6 zone is still a good support for RLC. If we don't lose this zone, in the near future RLC can rise back to the 2.5$ zone
📈RED PLAN
♻️Condition : If 1-Day closes ABOVE 1.6$ zone
🔴Buy : 1.6
🔴Sell : 1.9 - 2.2 - 2.5
📉BLUE PLAN
♻️Condition : If 1-Day closes BELOW 1.6$ zone
🔵Sell : 1.6
🔵Buy : 1.3
❓Details
🚫Stoploss for Long : 10%
🚫Stoploss for Short : 5%
📈Red Arrow : Main Direction as RED PLAN
📉Blue Arrow : Back-Up Direction as BLUE PLAN
🟩Green zone : Support zone as BUY section
🟥Red zone : Resistance zone as SELL section
#RLC short X3 The Rising Wedge BreakdownThis pattern has a familiar look to a bear flag ( shows a rising wedge 19h chart, while a bear chart pattern is evident in the daily chart.
During the formation, there are a few indicators that can be used to determine whether the pattern is a real pattern or a disguise.
As this formation progresses, it is a favorable signal if the volume is decreasing. That’s because it would show a divergence between price and volume, adding evidence that a reversal may be imminent.
RLC (iExec) 6th Jan 2022RLC has lost -55% since November 2021 and -85% since May 2021.
As you see it is working inside his the ascending triangle pattern. If you want to trade as well as holding long.
What the catch:
If Bitcoin to bottom out and showing some bullish sequence can take long although this idea is invalidated if Bitcoin shows no signs of recovery.
Here is just my idea hope you enjoy it.
Peace ✌🏼