RVNUSDT.P trade ideas
$RVN.X/USDT - SHORT - Potential 11.22%$RVN.X/USDT - SHORT - Potential 11.22%
Exchanges: Binance Futures
Signal Type: Regular (Short)
Leverage: Isolated (1X)
Entry Targets:
1) 0.05581 - 100.0%
Take-Profit Targets:
1) 0.05416 - 50%
2) 0.05189 - 25%
3) 0.04956 - 25%
Stop Targets:
1) 0.05889 - 100.0%
Entry Triggers - Pullback
Trailing Configuration:
Entry: Percentage (0.0%)
Take-Profit: Percentage (1.0%)
Stop: Breakeven -
Trigger: Target (1)
Raven coin may have a long term upward trendWith Elliot wave analysis RVN is in the 4th wave which is a corrective wave and the first scenario is that this wave is a triangle and there could be a fifth impulsive wave on the way.
The fifth wave can make an upward trend for over two years. There is a support area at a bottom of the triangle which can be a good spot to place first buy order; but we can wait for the break out from the down trend to be more certain of the future trend.
#RVN has broken out of a year long Symmetrical Triangle PatternRavenCoin appears to have broken out of a year long symmetrical triangle on the weekly chart after posting a strong hammer candle last week. Depsite the bearish sentiment that is being expressed by many frustrated traders, now is not the time to sell in my opinion. This chart with its double bottoming bullishly divergent MACD coupled with this pattern breakout could be on the verge of a major breakout. We have seen this behavior in the past from RavenCoin. Fundamentally, the coin just went through a Halving event which is typically bullish since the supply to miners is cut in half during these events. This may be the perfect opportunity to both start mining RavenCoin, and start investing and accumulating this cryptocurrency. Furthermore, the coin is in the top 100 coins in terms of market cap and frequently appears on LunarCrush social analytics as a leading coin in social media exposure. Finally, Ravencoin is a GPU mineable coin which frequently has risen to the number 1 GPU mined coin in the world. This popularity amongst miners is bound to attract many of them back to the coin when Ethereum goes Proof of Stake. Yet another reason why I believe now is the time to dollar cost average and accumulate this coin. Let's see how this turns out, but if the past is any prelude to the future, we may be looking at a coin with HUGE potential here.