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SergioFXtrader

RSR USDT, Wyckoff distribution idea

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RSR / TetherUS (BINANCE:RSRUSDT)  
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BINANCE:RSRUSDT   RSR / TetherUS
Support and Resistance Candlestick Analysis Fractal
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supportandresistance candlestick fractal
RSR looks very weak to me. Each attempt to rally totally fail. I don´t see any buying volume either. It seems like any big player totally sold on the way up and left left this coin. Nonetheless, it has hit a big weekly support area that every attempt to rally totally fails and is followed by a LL. If you follow this coin, wait for a the third rally that is overturned by an engulfing candle. All rallys where overturned by an engulfing candle... don´t forget that the supply that comes in the engulfing supply candle can be tested. An analog chart is a forex pair GBPJPY that had a similar price behavior.
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