Short
RNDR Render getting ready to correct 50% after this top
Updated
Not financial advice
All charts made on current market conditions
I can see a play to the short side here on this local top between 1.85-2.00 range.
Wait for pattern to form but we are nearing end of parabolic Rsi curve and the other indicators are showing weakness.
On a longer timeframe the 1 week this token is displaying a cup and handle pattern .
And this 2.00 ish range represents the top of the handle so to get to bottom of handle I speculate we lose 50% to around .93-1.15 range before taking off to around 8.00.
Let's see how it plays out.
Always practice patience
Patience Is Key
#PIK
And Think Like A Whale
#TLAW
All charts made on current market conditions
I can see a play to the short side here on this local top between 1.85-2.00 range.
Wait for pattern to form but we are nearing end of parabolic Rsi curve and the other indicators are showing weakness.
On a longer timeframe the 1 week this token is displaying a cup and handle pattern .
And this 2.00 ish range represents the top of the handle so to get to bottom of handle I speculate we lose 50% to around .93-1.15 range before taking off to around 8.00.
Let's see how it plays out.
Always practice patience
Patience Is Key
#PIK
And Think Like A Whale
#TLAW
Trade active
Short placed at 1.85 let's see how it plays outTrade active
Burned once but we have a topping structure forming at resistance of 2.20I should of highlighted that area of short interest as well .
Let's see how it reacts here above 2.00
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