How to prepare yourself?👇
Read this in-depth Technical Analysis post!👀
I will also give you an accumulation strategy that you can follow!✅
Buys inside this green zone will be HEAVILY rewarded in the next months!🔥
It's only a matter of time before $RIO starts its next leg up!
$RIO hasn't been moving much lately with price action being relatively stable.
Many have been asking themselves why this is the case.
This doesn't come to me as a surprise as $RIO was showing bearish divergence on the RSI weeks ago (indicated in red) and being in overbought territory.
A pullback or sideways price action was likely.
Especially after the strong impulse in October and November, a cool-off in price was the most likely scenario.
This is exactly what happened.✅
In the last weeks we mostly just went sideways.
This sideways price action will be fuel for the next leg up!
Remember, the longer we go sideways, the BIGGER the pump later on will be...
So don't be discouraged by the current price action.
See it as a gift to potentially accumulate more.
Once $RIO confirms new highs on this chart and closes a daily candle above the white horizontal line, I'm expecting $RIO to pick up bullish momentum.
Keep in mind though, it will be important for $RIO to hold above the breakout point.
Otherwise it might just be a deviation and $RIO continues its sideways chop inside the range.
By the way, congrats if you were able to buy below $0.20 months ago, when I explained several times that once we break above the green line, the $RIO bottom was likely in.🥂
Here was one of my posts at the time:
twitter.com/ParabolicPump/…
It was clear that $RIO would pick up bullish momentum from then on!
This perfectly played out!✅
As soon as we got above the green line, $RIO just blasted off and gave investors little chance to get in.
That's why I pointed out how important it was to accumulate before the big breakout as I explained months ago.
Now back to the current $RIO chart.
👉Why am I bullish on $RIO in the next months?
If you have been following my last posts, I have pointed out how the majority of altcoins are right now mostly consolidating.
This makes sense as they have mostly made big impulses up in October/November, just like $RIO.
A cool-off in price is healthy for the market.
The general altcoin market will soon start its next leg up and high quality altcoins like $RIO will of course flourish under these conditions.
It's interesting to observe how the volume on $RIO has been dropping lately.
This is natural as price is consolidating.
It's even a good sign!
Dropping/sideways price and dropping volume at the same time is generally speaking bullish in Technical Analysis!
It means that sellers likely won't be strong enough to push price down much further.
If you were looking to accumulate $RIO for the next leg up, this could be a potential accumulation strategy for you:
✅Buy some $RIO now
✅Generally speaking, have multiple limit orders set in the green zone
✅Also have some limit buy orders set at the bottom of the green zone (potential bounce area)
A daily candle close below $0.49 would open up the floodgates for lower prices as long as it doesn't reclaim that level fast.
Watch out for that!
Also, keep in mind that the best time to buy $RIO was months ago when I pointed it out.
However, in the long term cycle, there is A LOT of upside left!
I'm expecting targets of $20 and potentially even more for $RIO.
When the CEO of Blackrock is bullish on Tokenization, it's time to pay attention!
RWA will be a huge narrative throughout 2024.
After months of research, my top pick for this cycle in the RWA sector is $RIO.
Buying now will make you look like a GENIUS in just a year from now!
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