RIFUSD Trade the Triangle's break-out

8 May 2023

The RSK Infrastructure Framework (RIFUSD) is trading on a Triangle pattern within a long-term Channel Up. The strong Support is the 1D MA100 (green trend-line), holding since mid January. A 1D candle closing above the top of the Triangle would be a bullish signal, targeting the 0.30900 Resistance (November 10 2021 High). Similarly a closing below the Triangle would be a bearish break-out signal, targeting at least the 1D MA200 (orange trend-line), which would be the levels where we will start adding long-term buys again.

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