I have taken a position in RCN around the 620-630 satoshi range for the following reasons:
1. Price sitting on support - horizontal price support and diagonal support
2. Falling wedge pattern on the 4 hour and daily chart.
3. RSI divergence on the 4 hour and daily chart.
Stop loss will be tight ~ 600 area, but since the rest of the altcoin market is going up, I suspect this will reverse soon. Technically this is a DeFi project (lending), which are all a little cool right now. Not a bad price to get in in my opinion. Not financial advice :)
1. Price sitting on support - horizontal price support and diagonal support
2. Falling wedge pattern on the 4 hour and daily chart.
3. RSI divergence on the 4 hour and daily chart.
Stop loss will be tight ~ 600 area, but since the rest of the altcoin market is going up, I suspect this will reverse soon. Technically this is a DeFi project (lending), which are all a little cool right now. Not a bad price to get in in my opinion. Not financial advice :)
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Stop loss was hit, but I think it was a stop hunt (I don't set stop losses on Binance due to this phenomenon). Still closed above 600 sats. RSI is trending up.
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I Hodl'd like a degenerate through that dip, but if I had learned anything through all my time in crypto, I felt that was a deviation and I added to my position. Reclaimed the trendline.
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So, I didn't follow my plan and got burned like a pleb.
That's ok, I stil see potential here. Reclaim of the trendline. My lines are still intact...for now. I added on this recent dip. I recall RCN having its own cycle previously. I'm banking on that this time around.
That's ok, I stil see potential here. Reclaim of the trendline. My lines are still intact...for now. I added on this recent dip. I recall RCN having its own cycle previously. I'm banking on that this time around.