Long
Possible 15-30% Gains on REP
Overview
- Overall REP is looking really strong and the slight BTC dump opened up the door to get REP on sale before it takes off if it can break the $45 resistance. I spend the hours getting free trade set-ups for USD pairs so you don't have too. Don't miss out and Follow! Let's start from the top!
Price Chart
- 4hr chart with 20/50/200MA's to indicate future resistances or supports
- Fib retracement helps to show potential supports
- Stay above the 0.5 retracement line and could continue upward movement and break $45 resistance
- Very strong as REP bounced off the 20MA so right now we can use 20MA as a future support
- Once $45 is broken there is not much in the way towards $54 or more making for a nice 20% gain from there
- If you really wanted to have a low risk trade could wait until the red support line is touched, but it's also possible this may not happen
RSI
- Could be forming an inverse H&S that could help propel REP to test ATH or higher if volume is sufficient
- If inverse H&S fail, could have a broadening wedge that opens the door up to higher volatility. Stay above red line to stay bullish
- Current value of 54.73 is not oversold or overbought so there's room for higher price action
Stoch
- Current value is currently high but during the last ATH the value started high and maintained high position as price was increasing. Could be seeing the same formation occurring
BTC NOW
- Text explains chart
Extra Info
- Learn about Augur(REP) here: augur.net/
- REP VOLUME: coinmarketcap.com/currencies/augur/
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for free trade set-ups and helpful trading strategies 🏆
Would also like to know your thoughts! Remember this is not financial advice, however, it is an overview of what I am seeing in this coin's price action.
-Happy Trading
MoneyGrind
- Overall REP is looking really strong and the slight BTC dump opened up the door to get REP on sale before it takes off if it can break the $45 resistance. I spend the hours getting free trade set-ups for USD pairs so you don't have too. Don't miss out and Follow! Let's start from the top!
Price Chart
- 4hr chart with 20/50/200MA's to indicate future resistances or supports
- Fib retracement helps to show potential supports
- Stay above the 0.5 retracement line and could continue upward movement and break $45 resistance
- Very strong as REP bounced off the 20MA so right now we can use 20MA as a future support
- Once $45 is broken there is not much in the way towards $54 or more making for a nice 20% gain from there
- If you really wanted to have a low risk trade could wait until the red support line is touched, but it's also possible this may not happen
RSI
- Could be forming an inverse H&S that could help propel REP to test ATH or higher if volume is sufficient
- If inverse H&S fail, could have a broadening wedge that opens the door up to higher volatility. Stay above red line to stay bullish
- Current value of 54.73 is not oversold or overbought so there's room for higher price action
Stoch
- Current value is currently high but during the last ATH the value started high and maintained high position as price was increasing. Could be seeing the same formation occurring
BTC NOW
- Text explains chart
Extra Info
- Learn about Augur(REP) here: augur.net/
- REP VOLUME: coinmarketcap.com/currencies/augur/
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for free trade set-ups and helpful trading strategies 🏆
Would also like to know your thoughts! Remember this is not financial advice, however, it is an overview of what I am seeing in this coin's price action.
-Happy Trading
MoneyGrind
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