“Positive scenario here is promoted by the fact, that the RDD broke the mid-term down trendline (orange).So far, it is too early to claim the bullish victory but buyers are very close to do that. All we need for a buy signal is the price closing above the red resistance. Positive sentiment will be denied, when the price will break the black line. „
The price did not manage to break the resistance, so there was no buy signal. Instead of that, RDD went lower. In the meantime, ReddCoin created two trend continuation patterns, both of them were flags (blue) and resulted with the breakouts of the lower lines. Most recently, the price broke the lower black line, which kills the positive sentiment and opens us a way towards new lows. Today, we do have a small upswing but as long as we stay below the black line, traders should not think about buying.