Hello, dear TradingView members.
This idea is an RSR analysis.
RSR is moving up and had a 15% pump just now.
Since the price moved above the upper Bollinger Band, it might show overbought signals and cause sideway moves until the market gets enough strength for more pumps.
Scenario one:
A breakout:
The price will get more support and then pump to the higher resistance levels.
Scenario two:
the price will get rejected by the upper Bollinger Band and resistance #2 and then fall off to the support levels.
The Bollinger Bands are vast, meaning the price will get rejected or cause more psychological pumps.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
This idea is an RSR analysis.
RSR is moving up and had a 15% pump just now.
Since the price moved above the upper Bollinger Band, it might show overbought signals and cause sideway moves until the market gets enough strength for more pumps.
Scenario one:
A breakout:
The price will get more support and then pump to the higher resistance levels.
Scenario two:
the price will get rejected by the upper Bollinger Band and resistance #2 and then fall off to the support levels.
The Bollinger Bands are vast, meaning the price will get rejected or cause more psychological pumps.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
