RVN/BTC Raven learning how to fly
We're currently pushing into resistance(previous support), so an immediate long wouldn't be a good idea BUT if we manage to break through we can play the retrace into that block (green scenario).
If we bounce down right now and make a higher low (yellow scenario), it would also increase the chances of breaking through that resistance.
Upon successful retrace we should be targeting those red highs I've outlined. But one step at a time, first we need to break this resistance.
If we break below the last low we'll have to see how the situation unfolds then.
Original idea by Svarog https://www.tradingview.com/chart/RVNBTC/NMbkrZnZ-RVN-BTC-Raven-learning-how-to-fly/
If we bounce down right now and make a higher low (yellow scenario), it would also increase the chances of breaking through that resistance.
Upon successful retrace we should be targeting those red highs I've outlined. But one step at a time, first we need to break this resistance.
If we break below the last low we'll have to see how the situation unfolds then.
Original idea by Svarog https://www.tradingview.com/chart/RVNBTC/NMbkrZnZ-RVN-BTC-Raven-learning-how-to-fly/
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.