RedPulse Takeoff

The RedPulse downtrend had been very steady since the last corrective wave up, occurred back in May. Price declined substantially and has reached the low at $0.0147, where it rejected the downtrend trendline, with the clear bounce off.

The MACD has formed a bullish divergence and the Fibonacci Time zone indicator shows the beginning of the next cycle. The about mentioned facts suggest that the next cycle could result in a massive growth and could take RPX/USD up to $0.3 area in a very short period of time.

As this could be just the beginning of the long term uptrend, if the $0.3 resistance area is broken, price is likely to reach $1 psychological resistance, which could happen even before the year end.

Considering the extremely cheap price and the beginning of the new cycle, this seems like a very solid buying opportunity for the short, medium and long term. While the downside risk is extremely low, the upside potential in enormous.