Ripio Credit Network $RCN trend reversal signs could indicate a return a bull for RCN/BTC

Since Jan 24th RCN/BTC has sunk from 0.00003498 to 0.00001376, 40 % of the value relative to BTC. However, recent indicators as well as the breaking of the downwards parabola could suggest a change to a bull. Here are 4 key things to note with $RCN that could hint at future price directions:

A - MACD divergence. A downwards trend in price and an upwards trend for MACD is a clear signal of a trend reversal, although is usually only to be used when other indicators show similar signals.

B - Contracting triangles often indicate the end of a corrective (Elliot Wave analysis) therefore the downturn from January could well be starting to end.

C- Increase in volume. Although there is no single volume spike, the great increase in volume being sustained could indicate that any slight bullish upswing could be maintained and could generate large amounts of momentum, potentially meaning extended upwards waves when we return to motive waves.

D - MACD convergence. Especially given points A and B, a return to MACD convergence or "normality" could indicate that the local low seen in the screenshot above could in fact be a more major low than it seems.