$REN prepping for a 60% bullish moveStrengthening trend + Repeating fractal. Looks good for a low risk 60% move up.
RENBTC trade ideas
RENBTC - bullish falling wedgeRENBTC - bullish falling wedge
Buy at 900-930
Sell at 1850
Stop Loss: 850
Scalp Play On RENBullish divergence on 4h MACD and bullish bounce on 1h MACD.
Waiting for price to break above resistance. Targeting 1200 sats range but as always, it could go higher.
Will update as the trade moves along.
*THIS IS NOT FINANCIAL ADVICE. I AM NOT RESPONSIBLE FOR ANY LOSSES OF MONEY*
20% Drop Possible For RENREN is not showing signs of strength right now as an up trend channel has been broken. On top of that, MACD looks bearish as well. I'm looking to enter around the 750 sat range. This is the .618 retrace zone on the Fib. Additionally, there is a long term support line (Thick Black Line) that starts in May that I expect the price to touch at some point.
*THIS IS NOT FINANCIAL ADVICE. I AM NOT RESPONSIBLE FOR ANY LOSSES OF MONEY.*
REN - Let it rain on me....consolidation timeREN is consolidating after hitting new highs.
Patience is the key, Hodlers are rewarded best.
Breakout TradePotential Breakout Trade buy above the overhead resistance trend line on a daily close gl.
Definitely, the best project. $Ren #RenVMThe background of this project is ok, merely because you need to know that your $ren tokens (100k) have the real use case and while other investors are looking on sh_t coins/tokens, you as the Ren Hodler will have the real store of value in your wallet, but the best place for them is own Darknode.
Good luck, guys. You know, market knows, where is the money.
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.
$REN Broke the Downtrend to Revisit Old Highs - Update!Update as promised.
REN broke the downtrend that we were stuck in for days. The reversal is clear and points back to old highs and possibly a continuation. This will be updated in two days or so upon confirmation.
Targets are set on the chart.
Happy trading and stay Safu!
REN - Make or Break situationREN is not able to cross the RSI resistance as well it is not able to break out of the downtrend line.
with BTC consolidating and hype surrounding the launch of the testnet, REN should do well from here.
Have a tight stoploss of 3-5% in case it break on downside
