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RENBTC

Ren Price Analysis REN / BTC: Potential RiseRen / Bitcoin Short-term price analysis Ren has a bullish short-term trading bias against Bitcoin, with the REN / BTC pair bouncing from its 200-period moving average on the four-hour time frame. The four-hour time frame shows that REN / BTC bulls are working hard to invalidate a bearish head and shoulders pattern and trigger the next upside breakout. Technical indicators across the four-hour time horizon are bullish and continue to issue a buy signal. Pattern Watch Traders should note that the REN / BTC pair could fall sharply if price falls below the neckline of the bearish head and shoulders pattern. Relative Strength Index The Relative Strength Index on the four-hour time frame is bullish, although it is starting to correct from overbought conditions. MACD Indicator The MACD indicator on the four-hour time frame is bullish and continues to generate a buy signal. Ren / Bitcoin Medium-term price analysis Ren has a bullish medium-term outlook against Bitcoin, with the REN / BTC pair bouncing sharply from key technical support on the daily time frame. The daily time frame shows a strong technical breakout is currently underway, with the REN / BTC trading above the neckline of large inverted head and pattern. Technical indicators on the daily time frame are conflicted and are failing to generate a clear trading signal. REN / BTC Daily Chart by TradingView Pattern Watch Traders should note that the overall upside projection of the bullish inverted head and shoulders pattern would take the REN / BTC pair to a new all-time trading high. Relative Strength Index The RSI indicator is bullish on the daily time frame and shows scope for further upside. MACD Indicator The MACD indicator is conflicted on the daily time frame and is currently failing to generate a clear trading signal. Conclusion Ren is attempting to regain bullish momentum on the four-hour chart, with REN / BTC buyers now needing to invalidate a bearish head and shoulders pattern. Large bullish pattern on the daily time frame still suggests that the cryptocurrency has substantial upside potential against Bitcoin over the medium-term.
Long
by CryptoBriefingTA
REN - recent pump had nice confluence of indicatorsREN recently broke out of this downward sloping channel - a Bull flag formation. It reached oversold levels on the RSI at the same time as hitting 200 support on the EMA (4H) RSI seems to backtest pretty reliably for REN, and there had also been some bearish divergence on the previous upsloping channel, predicting the downtrend. I am quite new to TD Sequential and still learning how to use it, but there was also a green 9 right at that 200 MA before the pump. Checking the Daily we could also see a green 9 predicting the reversal to the upside from 13 May. On the 4H the previous green 9 occurred right at the 100MA. Price continued to dip down to the 200MA, completing another cycle. I guess that should be quite a strong buy signal. I didn't take this trade but as a new trader learning the ropes, it's exciting when you find a confluence of lots of indicators.
by optimystery
Ren Is Moving Ahead Of The Pack (Bullish Signal 4 The Market)Ren Protocol (RENBTC) has been great to us paying great profits each time we trade it. Found this one on the Full Moon back in February with a trade that generated over 100% profits... You can see it here: Then again over 180% of profits collected in May, you can see it here: We noticed that RENBTC is moving ahead of the pack and that is why we want to call your attention to this chart today. After a long or strong period of growth, we tend to see a long/strong retrace, but RENBTC moved down only to the 0.618 fib. retracement level from the last bullish wave and went on to grow by as much as 80% in just 4 days with the chart looking pretty bullish. With many altcoins hitting new lows, consolidation and starting to move up, this can be taken as a signal that the altcoins market is starting to wake up. As for RENBTC, it is likely to retrace before continuing up, but it all really depends on today's candle close. If the last high can be broken (magenta), you can expect RENBTC to move higher. If not, you can expect a retrace + consolidation before the signals start to develop for the next move. We believe that most of the altcoins, about 80-85% will start to move positive soon. So get ready to collect profits... This market was born for me and you! Namaste.
Long
by AlanSantana
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