Since the huge run-up of RVN in the first few weeks of 2021, RVN has seen strong consolidation. This period of consolidation has formed a huge bull-flag pattern on the chart.
With RVN reversing from the bottom of the pattern recently, there's a high probability that the price will move towards the top resistance of the pattern.
Since bull-flags are classically bullish patterns, I'll be looking for bullish break outs to occur. Targets placed at recent highs. Be aware that the price might bounce of the resistance and move back towards the support.
Happy trading!
With RVN reversing from the bottom of the pattern recently, there's a high probability that the price will move towards the top resistance of the pattern.
Since bull-flags are classically bullish patterns, I'll be looking for bullish break outs to occur. Targets placed at recent highs. Be aware that the price might bounce of the resistance and move back towards the support.
Happy trading!
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