RLCBTC. On support but looking for a buy at around 11500.

Jul 23, 2020

RLCBTC 4H. Pumped even further right after Chico Crypto's uTube video the other day. Probably not a coincidence. In a nice descending channel. RLC has retraced somewhat now and is finding support at Fibonacci 0.5. Probably some upside from this level for a scalp but I am looking for a retest of trend line 'A' partly as I believe BTC is heading for 9600 and RLC definitely dives when BTC moves, and partly because I feel there is better support at that level. If trend line 'A' breaks then I'm definitely looking at buying some RLC at 'C' the 0.618 level and have placed an order at 11513. Generally, most alts look oversold to me and a healthy correction has got to be more probable for sustainable new highs in the medium term....?

EMA 21 & 200.