Req/Btc Conservative Channel Trend (65% potential profit)
Request is a decentralized network which allows anyone to request a payment (a Request Invoice), where the recipient is able to pay in a secure way and all the information is stored in a decentralized authentic ledger. This results in cheaper, easier and more secure payments and allows a wide range of automation possibilities on top of it. Check out the whitepaper here:https://request.network/assets/pdf/request_whitepaper.pdf
Request Network's floor was established November as .0000584 sat and reached .0006809 sat on it's New Year's bull run.
Request Network is displaying a classic channel trend with multiple points of support on the top and bottom channel. If it hits the average of the trend channel, fib level 1.272 (.0008502 sat ) will be reached in T-minus one month with the continuation of the channel trend. This is a 65% potential profit increase if REQ was bought at the current price (0.0005555 sat).
A shorter Look:
This recent correction and rebound has created a descending triangle pattern that also intersects fib level 0.786 (.0005477 sat). If this support level is not broken, we could see a temporary fall to fib level 0.618 with a rebound to a higher fib support. RSI is rising out of oversold area and the signal line is still above the MACD showing downward momentum.
Let me know what you think of my analysis,
Cheers!
Request Network's floor was established November as .0000584 sat and reached .0006809 sat on it's New Year's bull run.
Request Network is displaying a classic channel trend with multiple points of support on the top and bottom channel. If it hits the average of the trend channel, fib level 1.272 (.0008502 sat ) will be reached in T-minus one month with the continuation of the channel trend. This is a 65% potential profit increase if REQ was bought at the current price (0.0005555 sat).
A shorter Look:
This recent correction and rebound has created a descending triangle pattern that also intersects fib level 0.786 (.0005477 sat). If this support level is not broken, we could see a temporary fall to fib level 0.618 with a rebound to a higher fib support. RSI is rising out of oversold area and the signal line is still above the MACD showing downward momentum.
Let me know what you think of my analysis,
Cheers!