JNor

Augur (Rep) getting ready to move higher

Panjang
COINBASE:REPUSD   None
REP forming an extremely well defined Ascending Triangle on the 4hr chart. We're getting close to the end of this triangle pattern, so we should see a move outside soon. A breakout to the upside would imply a move to around $50, or around 40-45% from current prices. Given that $50.00 was our resistance level last week, traders entering long positions here could take partial profits around $50 where I would expect some selling to send it back near the $40 level where you can re-enter for a solid double dip trade.

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