Weekend special - Swing Trade - RISE coin 100% ROI
RISE went up on Aug 30th and went down by 71% from the peak price during the course of 15 days. From 19280 sats to 5540. Important to notice how well it did against Bitcoin's 15 day bear movement.
When RISE bounced from the bottom its price went up in 5 days by almost 180%!
Price then pulled back by 40% of the new peak price, from 15800 to 9027 sats (aprox.)
The current pull back happened as a less aggressive dip than the one in the beginning of September and even if we reach the lowest low, the pullback would still be 60%, not 71%. Indicating that the coin is stronger than it was before in a sense that investors have more confidence that RISE can bring them a good ROI.
The theory: RISE may bounce back up at any moment, in fact it has been going up from 9000 to 10500 and is currently at 9700 indicating that this bullish movement may consolidate and get more momentum soon. If it turns down again we could see a bounce at 7300s at the support line and then a bounce back up for a run just like we saw from the 15th to the 20th. In this case there are a few targets indicated on the chart - click on the link to see the full sized image
MACDI looks favorable with a change in direction on its histogram (yellow), RSI has a lot of room for a bull run, price is has just bounced below the 61.8% fibonacci retracement line, well, conditions seems favorable. But there's always a chance of a surprise.
I am still waiting for more consolidation before announcing an entry point, but anything above 11k sats may seem reasonable if we are going to see this amazing amount of price growth.
** What is in the chart, but not obvious to the eyes:**
The difference between the biggest price volume at the first peak (Aug 30th) to the second peak (Sept 15th) was 47%.
If we see that same growth from Sept 15th's peak we are talking about the price mark of 23k satoshis, which is almost 137% from the current price now.
FULL SIZED CHART
https://ibb.co/gddw0b
This is not financial advice!
Invest and trade at your own risk. NOBODY is right all the time. They only have to be right a few times and have a great strategy and risk management to make money. Be careful, invest at your own risk.
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