1. $RPL$ - Bullish

Today’s Update:

Target reached in 10hrs. Sold for 12.74% profit. I supposed the spike had something to do with Coinbase CEO’s remarks about the SEC wanting to ban staking in the US, which caused a FOMO run up.

Yesterday’s Analysis:

A rising wedge was spotted on the 4hr timeframe. Under any normal circumstance, this would be a bearish trade but based on recent momentum and the upcoming Ethereum Shanghai hardfork, I am putting my bets on an uptrend continuation. However, to minimize losses I will be waiting for a pullback to the golden ratio, a.k.a. 61.8% Fibonacci Retracement level with an SL exit set at a previous demand zone [38.887 - 38.637]. I am expecting 10% - 13% from this swing trade that is projected to last between 3- 7 days.

The Super-Short-Term Play: 3-7 Days
3.72-to-1 PL Ratio.
Entry: 40.207; Target: 45.328; SL: 38.829.

Hourly Resistance Zones

1. 41.382 - 41.601
2. 41.624 - 42.041
3. 42.169 - 42.589

Hourly Support Zones

1. 41.048 - 40.911
2. 40.867 - 40.685
3. 40.574 - 40.207

TA Methodologies:

1. Demand&Supply Theories [Price Momentum]
2. Fibonacci Retracements & Extensions [SR Zones]
3. Trendlines [Breakout]
4. RSI [Movement Strengths]

Please do your own research and risk no more than what you can afford.

Personally, I never risk more than 5% of funds on each trade and I am a perpetual futures trader.
My analysis is based on 14 years of experience trading the markets and is subject to my opinion. You've been warned. #DYOR