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Augur (REP) Against Bitcoin (BTC), Don’t You See It Coming?

2018-09-26-kraken-repbtc-14-0-44

The REP/BTC (Augur vs. Bitcoin) price ratio is in significantly oversold territory on a 3-day time scale. A the same time the ratio is reaching the apex of a falling wedge. This type of set-up foretells a sudden bullish spike or even a full blown trend reversal should ensue, in which case the upside potential will be massive, but beware of bearish wicks as well. Less than two days ago the upper resistance of the wedge has been temporarily violated with a sudden spike from 0.02 to 0.021 that has been immediately countered. More volatility moves are expected in the next few days with 0.28 as an initial target.      

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