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RVNBTC: A Quality Alt Ready to Move?
Looking closely at the chart of Raven (RVNBTC), we some potentially bullish developments.
RVNBTC has broken out above it's 21-day moving average. It is also holding above the 21-DMA. The 21-DMA is a major moving average because it is usually a sign of the strength of a trend. Right now, RVNBTC is spending more time above its 21-day moving average than it has in quite some time.
We also see that RVNBTC has broken out from, and successfully retested, a large downward sloping wedge. Even though it's a bit counterintuitive, a downward sloping wedge at the bottom of a down move can be bullish. Here's the logic behind it: The downward sloping wedge represents bears continually trying to hold the market down. In this case, the wedge was likely created by non-stop capitulation in the alt market. Then, when the market pops up through the top of the wedge, as RVNBTC has, the market rallies sharply as bears who pressed it lower for a long time get squeezed out by a flood of new longs.
We also like what we see from the Parabolic SaR indicator. This indicator helps you know when a new trend is beginning or ending. It is shown on the graph as small dots. Currently, this indicator is flashing bullish, which increases our confidence.
Bottom Line: If RVNBTC can help in the tokenization of assets, it may have a future. The chart picture seems to have turned positive, making this an altcoin you can enter into a small long position.
RVNBTC has broken out above it's 21-day moving average. It is also holding above the 21-DMA. The 21-DMA is a major moving average because it is usually a sign of the strength of a trend. Right now, RVNBTC is spending more time above its 21-day moving average than it has in quite some time.
We also see that RVNBTC has broken out from, and successfully retested, a large downward sloping wedge. Even though it's a bit counterintuitive, a downward sloping wedge at the bottom of a down move can be bullish. Here's the logic behind it: The downward sloping wedge represents bears continually trying to hold the market down. In this case, the wedge was likely created by non-stop capitulation in the alt market. Then, when the market pops up through the top of the wedge, as RVNBTC has, the market rallies sharply as bears who pressed it lower for a long time get squeezed out by a flood of new longs.
We also like what we see from the Parabolic SaR indicator. This indicator helps you know when a new trend is beginning or ending. It is shown on the graph as small dots. Currently, this indicator is flashing bullish, which increases our confidence.
Bottom Line: If RVNBTC can help in the tokenization of assets, it may have a future. The chart picture seems to have turned positive, making this an altcoin you can enter into a small long position.
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。