And here we have another progress for another hotlist to open long position which is the RSR.
Price is now testing the strong resistance zone which is the area of $0.0075 and it looks like that this current resistance has been becoming a strong resistance area as there has been another 5 attempts in the past trying to break above current resistance. More often it tried to break above the resistance zone, the weaker the resistance will be.
We are ready to put another buy position on RSR with the condition as below :
1. The recommendation is to open long position at SPOT market with no leverage as the volatility remains huge and it will need a long time to close (consider the funding rate charge).
2. Buy on the break out is suggested when there are huge money inflow and the volume is getting thicker to provide us higher liquidity.
3. The target is $0.00914 which is the next major resistance but it can change anytime depends on the market condition.
Price is now testing the strong resistance zone which is the area of $0.0075 and it looks like that this current resistance has been becoming a strong resistance area as there has been another 5 attempts in the past trying to break above current resistance. More often it tried to break above the resistance zone, the weaker the resistance will be.
We are ready to put another buy position on RSR with the condition as below :
1. The recommendation is to open long position at SPOT market with no leverage as the volatility remains huge and it will need a long time to close (consider the funding rate charge).
2. Buy on the break out is suggested when there are huge money inflow and the volume is getting thicker to provide us higher liquidity.
3. The target is $0.00914 which is the next major resistance but it can change anytime depends on the market condition.
Currently is at 12.99% gain since we hardly called the buy on RSR. It is obvious that we will need to take some of the profit and move the SL into break even to minimize the risk of possible volatility.