Republic Protocol (RENBTC) Quick Analysis by Request
RENBTC is looking good but with mixed signals.
It is looking to breakout soon... Lower highs and higher lows... Volume decreasing and price volatility being reduced.
This is not a set up that I like. I wouldn't trade here because of the little info provided by the chart, and the fact that there is a good chance of this triangle breaking down.
Another way to trade is after breakout. With a strong close above MA99 (red line), is a bullish signal.
Here is the daily chart:
Note: This is no trade advise. This is an analysis by request.
Thanks a lot for reading.
Make sure to hit LIKE. :)
Namaste.
It is looking to breakout soon... Lower highs and higher lows... Volume decreasing and price volatility being reduced.
- If RENBTC breaks down, you can expect to find support around the green zone. This is where support is found.
- If RENBTC breaks up, resistance can be found around the red zone. That is our main resistance.
- Additional sideways action is possible.
This is not a set up that I like. I wouldn't trade here because of the little info provided by the chart, and the fact that there is a good chance of this triangle breaking down.
Another way to trade is after breakout. With a strong close above MA99 (red line), is a bullish signal.
Here is the daily chart:
Note: This is no trade advise. This is an analysis by request.
Thanks a lot for reading.
Make sure to hit LIKE. :)
Namaste.
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