Request Network (REQ) Technical Analysis: Back in buy levels

I often like to keep technical analysis simple when explaining it to others and leave the more complicated tools to myself. So here's a simple analysis.

Request Network is back to buy levels, adding contact points to the trendline (green) established earlier this month, making the trendline support ever stronger. If you take a look at the second picture, you'll see that the 50-day moving average has joined the trendline support

These are the kind of trading opportunities I wish I would see every day. But like I was predicting in my previous analysis, Bitcoin has started to correct a bit. That is not to say REQ can't go up if Bitcoin keeps correcting, but it will make it less likely. Nevertheless, now is a great buying opportunity with great upside potential and minimal downside risk if you were to cut your losses once the price goes below the 50-day moving average AND the trendline.

Be sure to do your own research before buying anything.

Edit: whoops, couple of typos. Shouldn't post stuff at 4:30AM