$RDD/BTC potential targets

in #ark3 years ago (edited)

Hello Hivers!

Before I start, I want to point out that the following post is NOT financial advice or any kind of recomandation, nor am I lisenced to give one!
It is my personal opinion and view on the chart!


https://www.tradingview.com/x/GMGY323K/

RDD has been in a downtrend for a little longer then 2 years now with the price now being 9-10 satoshi.
It has been holding the bottom of 7 satoshi for the past few months with the buy side of the ordderbook thickening over the time.

To get the targets i used 2 fibs, one which i used prior to 2017 pumps and one pulled from the top it made thereafter to the bottom of 7 satoshi it hit now.
By looking at the fib levels and prior price action i see a resistance zone between 16 and 20 satoshi (~75-100% increase).
If that resistance zone breaks, I see an escalation to 30 or even 50 satoshi levels.

Please keep in mind, this is NOT financial advice or any kind of recomandation, nor am I lisenced to give one.

Stay safe, manage your risk and enjoy the day!

Kind regards, OZ