This assumes that cryptocurrencies still exist when this finds support ;-)
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I'm always amazed by peopel's inability to realise the zoom function works both ways. Step out, see the big picture! Like many alts RDD makes spikes all the time. This one will be hammered down today, tomorrow, the day after. Those buying now will be burnt.
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This spike that formed on RDD is a classic example of what to be aware of when trading these altcoins. In general these coins form a long-term bubble patterns with variations such a spikes. These can be very profitable scalp trades, but they do not represent investment entries. As you can see here RDD is returning to its former downtrend, which will wipe out 100 % of the gains made here.
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Everyone thinks we're through the alt cycle already. Looking at RDD make sit clear we're only half way through. Enjoy the spikes.
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Need to push RSI above 66 for breakout, stoch RSI needs a reset though
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This chart is no longer valid. I don't think we can compare this alt cycle to last year's. Why? Because we have excellent support - successfully retested both 200 ma and 100 ma, this exactly at the same points that Bitcoin is scoring higher lows. The market is showing real strength now.