I found a good chart setup. Rocket Pool peaked its initial bullish breakout 11-May and has been sideways for the past few weeks. The chart is showing that the retrace is over/complete.
The initial breakout, between 7-April and 11-May, produced a total of ~135% growth. This happened in a little over a month.
The retrace ended as a clear-classic higher low and trading volume has been very high leaning towards the bullish side. This is a strong giveaway signal.
Market conditions are bullish for this pair. A continuation can happen anytime.
One thing though, there can be lower prices. Say a little more retrace and drop above the 6-May low at $3.85. There can be another drop if there isn't enough momentum to move higher and the higher low ends at $3.90. This is something that we have to wait and see. Both scenarios are high probability; straight up next week, or more consolidation before additional growth. Both scenarios are bullish on all timeframes. Regardless of the short-term, Rocket Pool (RPLUSDT) is set to grow.
A very nice target here goes for 840%. This is a strong target but also easy to achieve later this year. Another target, strong but more conservative, is found around $30 for a 500% potential profits.
Thank you for reading.
Namaste.
The initial breakout, between 7-April and 11-May, produced a total of ~135% growth. This happened in a little over a month.
The retrace ended as a clear-classic higher low and trading volume has been very high leaning towards the bullish side. This is a strong giveaway signal.
Market conditions are bullish for this pair. A continuation can happen anytime.
One thing though, there can be lower prices. Say a little more retrace and drop above the 6-May low at $3.85. There can be another drop if there isn't enough momentum to move higher and the higher low ends at $3.90. This is something that we have to wait and see. Both scenarios are high probability; straight up next week, or more consolidation before additional growth. Both scenarios are bullish on all timeframes. Regardless of the short-term, Rocket Pool (RPLUSDT) is set to grow.
A very nice target here goes for 840%. This is a strong target but also easy to achieve later this year. Another target, strong but more conservative, is found around $30 for a 500% potential profits.
Thank you for reading.
Namaste.
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🚨 FREE PREMIUM Trades + Top Results
t.me/anandatrades/1183
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t.me/masteranandatrades/6172
🚨 Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
t.me/anandatrades/1183
🚨 FREE Quality Content + New Results
(Frequent Discounts & Offers)
t.me/masteranandatrades/6172
🚨 Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
Related publications
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.