RLB - Bottom is in
Here Viaquant is making the prediction that 
RLB just created the bottom or is very very close to the bottom before its bullmarket kicks off. Here are the reasons why. If you want to know the fundamental reasons of why RLB is undervalued, please check out our previous post here:
https://www.tradingview.com/chart/RLBUSD/1piNz3Cp-RLB-Showing-signs-of-strength/
Now let's focus on what the chart is showing us that could be foreshadowing that the bottom was just created.
The demand zone is the first thing to notice. This zone is a strong liquidity zone between $0.10-$0.115 where we have seen a lot of accumulation in that region.
Then, once our RSI uptrend was broken on the daily we had a crash down to the $0.09 level. This is what is known as deviation from the established range. This causes lot of selling pressure that allows the whales to buy large amounts without affect the price to much, thus filling their bids at optimal levels.
Once this occurred, price created a daily doji on March 22, 2024 that looking back into the past from the future could signal the bottom was created on the day before the bull market. This is usually a good example of a trend reversal with other factors verifying your thesis. Therefore, we predict the bottom is in.
Also, looking at our RSI we see that the crash led us exactly to oversold conditions and we have seen a strong rebound from the 30 level on our RSI.
RLB just created the bottom or is very very close to the bottom before its bullmarket kicks off. Here are the reasons why. If you want to know the fundamental reasons of why RLB is undervalued, please check out our previous post here: https://www.tradingview.com/chart/RLBUSD/1piNz3Cp-RLB-Showing-signs-of-strength/
Now let's focus on what the chart is showing us that could be foreshadowing that the bottom was just created.
The demand zone is the first thing to notice. This zone is a strong liquidity zone between $0.10-$0.115 where we have seen a lot of accumulation in that region.
Then, once our RSI uptrend was broken on the daily we had a crash down to the $0.09 level. This is what is known as deviation from the established range. This causes lot of selling pressure that allows the whales to buy large amounts without affect the price to much, thus filling their bids at optimal levels.
Once this occurred, price created a daily doji on March 22, 2024 that looking back into the past from the future could signal the bottom was created on the day before the bull market. This is usually a good example of a trend reversal with other factors verifying your thesis. Therefore, we predict the bottom is in.
Also, looking at our RSI we see that the crash led us exactly to oversold conditions and we have seen a strong rebound from the 30 level on our RSI.
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