Reserve Rights / USD $RSR - Writing was on the wallIn retrospect, on most cyrpto, the writing was on the wall for a major pullback.
RSR was no exception and dipped significantly. On Binance, dropped even deeper, but I use Huobi as it has full history.
In this case, I count a complete 5 wave move up. My EW is not the best, so take it or leave it. What was obvious though are the 4 consecutive tops on a daily timeframe with bearish divergence on RSI. This coupled with the BTC Dom chart looking to be locally bottomed at support, should have been an obvious red flag, which I ignored due to the Alt mania.
The move down is difficult to count but wave 2s tend to be sharper and more aggressive and we have touched the 0.382 fib on Binance already. If BTC has found local bottom then RSR should do well.
