A couple of tokens have been seeing HUGE returns over the last 24 hours, looking at GXS, NULS, CTXC and the like.
All of them started with an initial bullish move and a bounce from one of the Fibonacci retracement lines.
The same seems to be happening with RLC as we speak. Big initial move and a bullish bounce from the $5, between the 0.5 and 0.618 Fibonacci retracements.
In case $4.9 holds, I'm looking at a potential target of $6, or even $7 if we're going to follow the prior parabolic moves. Be aware that this is a risky set-up, so apply your portfolio management accordingly.
Happy trading!
All of them started with an initial bullish move and a bounce from one of the Fibonacci retracement lines.
The same seems to be happening with RLC as we speak. Big initial move and a bullish bounce from the $5, between the 0.5 and 0.618 Fibonacci retracements.
In case $4.9 holds, I'm looking at a potential target of $6, or even $7 if we're going to follow the prior parabolic moves. Be aware that this is a risky set-up, so apply your portfolio management accordingly.
Happy trading!
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Bitcoin started dumping ight after this publication. Trade invalidated, might come back to check on the chart once BTC cooles off.
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