RSR USDT, Wyckoff distribution idea

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.

Trade fermée manuellement