Good morning!
I just wanted to follow up with my last post I made yesterday about RPX. I bought in at .0003 ETH ($.33) early this morning and I wanted to share why:
There is strong support around the $.25 range, so I'm not worried about losses if it does dip. In fact, if it does dip to that range, I will be increasing my position. I firmly believe that RPX has bottomed out and is now headed for higher prices. However, I do believe it will face resistance around the $.35-.40 range, and potentially have a short pullback, before continuing to climb.
The TSI indicator has swung upwards hard, and as I called yesterday, indicates a momentum shift, and should be viewed as a sign to buy. The strength of this coin is high, and coupled with the momentum gain and increased volume, is a good sign to say the least. As always, I'd love to see more volume with this move, but the current volume is by no means bad.
Overall, I think this coin will face resistance at it's current level, again around $.35-$.40, with potential for a short pullback. If it does pullback, I will be increasing my position, especially if it decides to test it's support again at the $.25 level. However, I am very bullish on this coin, and I anticipate that within a couple of weeks, will hit it's early January highs and continue climbing. This coin has a good potential to triple, and I will be watching closely for the next two weeks.
Again, this is just my opinion, and I'm by no means an expert, so don't take this as financial advice. And as always, I'd love to hear what you think. Are you bullish? Why or why not? Do you anticipate a pullback, and if so, will you buy in? What do you think the price will be in 2 weeks?
Thanks for reading, and if you found this to be helpful, please upvote and resteem!
Fei