One of the projects which I personally like very much is $RVN coin
or Raven coin. I feel it has a huge potential, you can check out their website https://ravencoin.org/ and look into the project in details.

Ravencoin (like Litecoin) is a fully open source, fair launched, community led, decentralized project based on a code fork of Bitcoin. (Source: Ravencoin official website)

I will be covering fundamental details soon, so stay tuned!
And don't forget to follow me on twitter for instant updates! :)

This article is more about Technical analysis and my thoughts.

So read on!

My overall bias on $RVN: Neutral until breakout

I will be charting Both RVN/USD and RVN/BTC pairs.

First I will be charting on the BTC pair:

RVN/BTC 1W

Chart:

Overall Bias: Neutral/Bearish until breakout.

Points to note:

1. A close above 270 will be really bullish,
2. Currently, there's no bullish case

RVN/BTC 1D

Chart:

Overall Bias: Neutral/Bearish until breakout.

Points to note:

1. A close above 270 will be really bullish,
2. We see it looks interesting, as it seemed to make a retest of the weekly resistance and attempted a lower low structure.
3. No bullish candles observed as well.
4. RSI is also respecting the price, so if you are already in, you can wait for a reaction at these supports and resistances.

Recommended stoploss:
If the daily/weekly closes below 188 sats, it will invalidate this channel (drawn on the chart.)
If it breaks above 270 on daily/weekly, it will turn bullish, so take note!

RVN/BTC 4H

Chart:

Overall Bias: Neutral/Bullish.

Points to note:

1. If you dont consider that wick which retested support, structure looks like it made a higher high, which is bullish
2. If you consider the wick, still structure is little bit bullish, (unless it goes below daily support (around 188 sats)

Recommended stoploss: same as 1D chart.

Now I will be charting on the USD(T) pair

RVN/USDT 1D

Chart:

Overall Bias: Neutral/Bearish (Until breakout).

Points to note:

1. There's resistance on the daily, so keep this into consideration.A break above will be bullish.
2. We dont see any other bearish/bullish signs. But watch out for the Weekly resistances. Above it, $RVN will fly. (Kaw Kaw!)

RVN/USDT 4H

Chart:

Overall Bias: Neutral(Until breakout).

Points to note:

1. Note the Support/Resistance on the chart. Same thing, daily and weekly resistances are marked on the chart.

My Take:

On higher timeframes, in spite of being bearish, (Of course unless it breaks above)
This does provide a very good Risk:Reward ratio.
Rewards are pretty much very high, as compared to the risk. so this can be bought with the stoplosses in place.
If the stoplosses hit, then we may need to reevaluate the analysis as it will invalidate most of the setups.

I'd definitely start buying small quantities slowly in dips/pullbacks and just wait for sometime unless it hits stoploss or breaks out of the range!

Also note: Check out my Bitcoin Dominance chart to gauge your R:R (Risk:Reward) on your favourite altcoins before entering any trade.

@beehivetrader/bitcoin-dominance-analysis-altszn-incoming

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This coin was requested by Hive account@hivefan, one of the followers, so I am sharing Raven coin analysis here.
If you want me to chart any altcoin, please let me know in the comments. I will be posting about them soon
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