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Request Network Showing Bullish Tendencies After Breakout

BINANCE:REQBTC   Request Network / Bitcoin
Request Network ( REQBTC ) is displaying multiple bullish signals. Let's take a quick at those together and remember to hit like to show your support.

Request Network ( REQBTC ) Chart Analysis

  • First we have a break of the trendline (red) coming down from the 27 March high.
  • This trendline is being challenged today after a high volume Doji .
  • Trading volume is increasing to the side of the bulls.
  • The MACD is showing great momentum to the upside after a bullish crossover.
  • The RSI is trending up and now moving above 49.
  • REQBTC recently hit a new all-time low, so we are looking at really low valuation right now, or as you would say, "buying near the bottom".

Two potential scenarios are drawn on the chart, green and red arrows.

1) The GREEN scenario we move up without closing again below EMA10.
2) The RED scenario we close below EMA10 and test the last low before starting a new impulse up.

A close below 0.00000230 would be a good stop loss. we use the weekly time frame and a manual stop loss.

Thanks a lot for reading.

Namaste.
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