RLC/BTC TA Update (Long Term Bullish Pattern?)
RLC/BTC
Looking at the bigger picture of RLC, this is technically bullish as long as the price can hold the 200 Day MA in the coming weeks.
But RLC's number 1 enemy right now is the downward trend-line resistance
which keeps the price respecting it from the peak High 10k sats area.
If RLC breaks this trend-line, form a new Higher Low and consolidate within the bullish buying area.
I wouldn't surprised to see further growth or retest previous High at 10k in the future.
Bearish scenario if the price closes below 200MA that will signal the pullback hasn't done yet and we could see the coin drop to 2.5k sats area.
Looking at the bigger picture of RLC, this is technically bullish as long as the price can hold the 200 Day MA in the coming weeks.
But RLC's number 1 enemy right now is the downward trend-line resistance
which keeps the price respecting it from the peak High 10k sats area.
If RLC breaks this trend-line, form a new Higher Low and consolidate within the bullish buying area.
I wouldn't surprised to see further growth or retest previous High at 10k in the future.
Bearish scenario if the price closes below 200MA that will signal the pullback hasn't done yet and we could see the coin drop to 2.5k sats area.
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