#TradingAnalysis101 RARE has many retail investors hit their
stop-losses and even have gotten their accounts
liquidated due to high volatility and market
uncertainty. Within past couple days $RARE
has sigificantly increased from 0.466 level
to 0.1357, that's almost 200% increase!! 🔥
RAREUSDT
0.12838
+43.16%
However many following the common sense
logic that after price climbing up so high,
that it will retrace and become bearish,
well they became victim of herd mentality.
(Check #TradingAnalysis101 on going
campaign to learn about trading tools, analysis,
quizzes & much more!) Instead of doing their
own analysis, research and thinking objectively,
they either followed other traders' signals
or just hopped on the trend due FOMO,
thinking they'll be successful. 😆
In weekly chart, RSI is in 60 zone which
indicates still more room left for growth.
Also this sudden massive breakout is also
within the weekly trend line, therefore
this bullish price action may not be considered
as overall major change in weekly structure.
Unless it crosses resistance and sustains
momentum above 0.23 level, then we'll consider
trend reversal and break of structure.
On the other hand if you look at 1HR TF,
you'll see clearly a different picture.
Here you see an incredible bullish uptrend,
with prices maintained above MA(25),
RSI's above 60 which indicates still more room
left before hitting overbought zones,
amazing volumes and buying power,
clearly indicating strong demand. 🚀
So weekly TF tells us that $RARE has already
once hit strong resistance zone from where it
faced rejection and you can also see this
in 1HR TF with 24HR high at 0.145 level.
If you look at liquidation map, you'll
see that most of the liquidation on the top levels
have been sweeped, now major liquidations
is at 0.11. Prices have high incentives to move
towards the liquidation zones to quickly
fill sell orders and eliminate those positions.
If it dips below MA(25) then market may
become bearish.
DYOR
