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Today we will talk about cryptocurrency RavenCoin (RVNUSD) in which we see a completed A-B-C correction from the highs and a pretty nice bullish setup formation.
RVNUSD was was down for the last year, but from Elliott's wave perspective, we can clearly see a completed A-B-C correction, nicely connected within channel range. And, with the current strong bounce, seems like the bulls are back in the game.
However, to confirm low in place and bullish reversal, we need to see a recovery back above the channel resistance line and 0.075 region. Bullish confirmation is only above the 0.18 level.
Happy trading!
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