12/17 RLUSD carnival before listing, will there be another major correction? RLUSD actual usage data remains to be seen
Whale movement analysis
1. Fund flow:
• The net inflow of large orders was 28.96 M, showing the strong strength of bulls.
• The inflow of small orders is small, retail investors are still waiting and watching, and short-selling actions are not obvious.
2. Price trend:
• High at 2.6870, now down to 2.6473.
• Bulls: The EMA line rises, trading volume increases, and short-term bulls dominate.
• Bears: If the price falls below the 2.46 support level, the bears may gain strength.
How to play bullish
1. Strategy:
• A pullback to support near 2.4601 would be an entry with a target of 2.6870 or higher.
• Stop loss at 2.42-2.45 to avoid a sharp pullback.
2. Indicator reference:
• The short-term EMA(7) is rising, coupled with the expansion of trading volume, it is suitable to follow the trend.
How to play short
1. Strategy:
• Enter short position after price breaks below support level 2.46, target 2.40-2.42.
• Stop loss is placed above 2.50 to prevent a rebound.
2. Indicator reference:
• Lower volume + lower RSI(6) indicates increasing bear pressure.
Summary
• Bulls: Buy on pullbacks, targeting a bullish breakout.
• Short: If the price falls below the support level, go short with the trend.
Flexibly adjust strategies according to long and short trends!