ReddCoin (RDD) Strong Breakout (100% Potential Profits)

ReddCoin is having a very strong breakout, but what will happen next?

I was looking at ReddCoin (RDD) earlier trying to figure out if this was a real breakout or just a manipulated pump. I couldn't figure it out at first, but it is looking real now.

Above you have two charts: (1) 2 hours chart on the left and (2) a daily chart on the right.

Now, before we get started, let me tell you that there will be a retrace coming.
When there is a huge breakout, a retrace follows. And looking at the bollinger bands, on both the 2h and daily charts, we are already outside the band, which points to a retrace.

Now, let's look at the charts:

- Huge breakout on the 2 hours chart, and the RSI reaching the overbought zone. This also confirms the coming retrace. This is nothing new, just plain simple and normal.
- All the indicators have turned super bullish on this time frame.

- On the daily chart, the MACD just crossed over and it is showing plenty of room for growth. After this breakout is confirmed, we can expect more upward action.
- The RSI is also very bullish and going up, as well as the DMI, OBV and STOCHRSI.
- The STOCH indicator is reaching overbought as well, more proof that a retrace is coming soon.

Note: The order book is very heavy on the sell side.

How To Trade?

Since RDD reached almost a 100% increase in less than a few hours, it is better to wait for the retrace before jumping in.
If you do jump in on this trade, you can use the targets that I will be sharing below in order to sell for profits.

Note: This is not a trade recommendation. I am not recommending this coin.
But I am sharing this analysis by private request and will provide some targets for those interested.

Please think carefully before trading and make sure to have a plan. Set up some goals.

My strategy is always very, very simple:

1- Buy and hold.
2- Sell on target.
3- If the trade goes south, sell at stop loss price or hold for LONG and sell for profit when the time comes.

* Pretty simple.

Thank you for your continued support.

تم فتح الصفقة:

ReddCoin (RDD) Targets:

(1) 98 * Target reached *
(2) 117
(3) 132
(4) 147
(5) 169
(6) 196 (All time high)
(7) 275 (New all time high)

- Please use this information as a tool to improve your trading.
- Trade at your own risk.
- This analysis does not mean that this coin will reach "x" price nor anything of that nature.
- The targets are not all meant to be reached. The targets are resistance levels that can be used as reference points to take out profits.
- Chart signals can change as time goes by.
- If you enjoy this analysis, please like, follow and share. Your support is highly appreciated.

تعليق:

Here you can find my old trade idea for ReddCoin (RDD), published on the 20th December.

Just click on the image below:

تعليق:

According to one of our commentators, ReddCoin (RDD) was added to a Korean Exchange. This can explain why the price is increasing this much.

On a different note, the retrace is already in place. This is the retrace that I was warning about when I wrote this analysis. Wait for the full retrace to be over before opening any new positions.

تعليق:

Looks like the retrace is over. We will get a strong signal if the hour/day closes above 86 satoshis.

تعليق:

This is the same formation we broke out from before...
What you think can happen next?

تعليق:

You see how easy this works?

It goes up, then retraces and then it keeps on going up... PATIENCE IS THE KEY.

Here is a chart for your entertainment:

تم فتح الصفقة:

RDD Keeps on going up. Steady, slow growth signals strength, and this coin has been growing steadily.

ReddCoin (RDD) Targets:

(1) 98 * Target reached *
(2) 117 * Target reached on 24-Feb-18*
(3) 132
(4) 147
(5) 169
(6) 196 (All time high)
(7) 275 (New all time high)