Ripio Credit Network $RCN - Swing Trade / long-term investment

According to Elliott wave analysis RCN is in an ABC correction and according to the Squeeze Momentum indicator and Wave Trend Oscillator (@ 3D TF) wave B will start soon.
Wave B can be traded as counter-trade inside the ABC correction. It looks like that this ABC correction is a wave 2 on a higher TF and wave 3 will start after the C wave finds its bottom. For this reason and for fundamental reasons I do not recommend a stop loss for this trade. For me RCN is a very good long-term investment.

SwingTrade RCN-BTC:
entry: 0.00000601-0.00000616;
TP1@0.00000818;
TP2@0.00000898, with 5% TTP
no stop loss recommended for this crypto -> accumulate it and hodl/stake it for long-term!


I´m not a financial adviser. For educational purpose only!

تعليق:

RCN has broken some support levels and is now trading at 467 sat.
I know the fundamentals of this crypto and I recommended a 2nd entry between 444-355 sats (0.706-0.786 Fib retracement level with HVN) with a higher position size. Hold RCN for several months or 2-3 years and sell it with high profits afterwards ;-)