RLB - Bottom is in (pt 2)

21 May

Here is an update to our previous post where we predicted the bottom for RLB was in. That post can be found here.

https://www.tradingview.com/chart/RLBUSD/tEPqijuy-RLB-Bottom-is-in/

This post did mark a short term bottom as RLB rallied almost 74%! Then we hit our resistance trendline as labeled "current resistance" in the post found below. Which caused price to create a lower low.

https://www.tradingview.com/chart/RLBUSD/ynv8ICgG-RLB-Beautiful-Structure/

Now we are back with a part 2 saying confidently the bottom is in. We are making this prediction as the structure has developed beautifully which give us a clear direction of what to look for next.

The first is our trendline of resistance that we predicted before we hit is, acted as sell pressure before the 50% drop. This gives us a valid trendline to watch. Once we break this trendline the true bullmarket for RLB should begin.

The second signal would be that we printed a 3D doji at the bottom. The first time we called the bottom it was off a daily doji (which sent price up 74%) and now we have an even more powerful doji on the 3D.

The final signal would be the massive bullish divergence that has formed on the 3D. In temrs of price we have seen 3 consecutive lower lows "marked LL" and on our RSI we have seen 3 consecutive higher lows "marked HL" creating a great buy signal.

We also saw our 3D rsi form a double top around 54 which means once we get a 3D close above 54 that should give us another signal of the true bull market for RLB.