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RENBTC trade ideas

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 IN TROUBLE - DON'T GET REKT! ABCDE Correction update!Refer to my previous idea copied below. This is just an update of my previous idea that continues to play out like a playbook. $REN went on a parabolic run, now is facing the inevitable ABCDE correction that I've been calling for days on end. This project is young and has tons of potential to 10x from here. However, that doesn't mean you should get rekt in the process. Better entries have yet to come, they will get here, be patient & don't fall prey of crypto twitter pumps. Those guys a good people, but they are pro traders with the same goal, accumulate BTC! They are not buying local tops, they are selling and creating liquidity on your backs! Don't be the one buying high & selling low. LET THE TRADE COME TO YOU! STAY SAFU & Happy Trading!
Short
by CryptoBitShow
3
$REN Update - Twitter Calls Does't Matter - Watch out!BINANCE:RENBTC It doesn't matter what Crypto Twitter is saying, REN has gone through a massive parabolic move & not everything goes up forever. This is bound to happen soon or later. Don't get caught with your pants down. I know this is an unpopular idea, however I would be cautious & set tight stop loss with this token. I love the hype, more importantly love the gains, but whales pray on liquidity, REN has provided plenty of liquidity to P&D 10x over. I hope to be wrong! because I as well have a vested interest in the project. Nevertheless, "IF!, ONLY IF", we go down hill from here = A great buying opportunity! Capital & risk management is key in these markets. Take profits and wait for the trade to come to you, don't chase tops or bottoms. Good luck, happy trading & more importantly be safe! Disclaimer: I got in very early & no matter how low it goes I am still safe. My strategy is to add as much as possible to my long. WHAT IS YOUR STRATEGY? LIKE , LEAVE A COMMENT, FOLLOW! This my opinion & not financial advice. Cheers all!
Short
by CryptoBitShow
1
REN/BTC Head and Shoulders PatternBINANCE:RENBTC Looking like a head and shoulders reversal here on the 2 hour. This is not financial advice and this is my second chart published so feedback would be welcomed and appreciated. The top of the head is around 1394, and it breaks the neckline at around 1256. That is (rounding up) approximately -10%. By taking -10% from the breaking of the neckline we get to the level around 1078 which also stood as resistance on the 22nd and 23rd before breaking above and creating the left shoulder. Using these numbers, a retracement area of around 1078 is calculated as a price projection for a possible reversal - if the volume starts to show signs of increasing around that area. That 1078 area will be very crucial in determining if the trend will go up or down. Also further confirmation for the h&s is the decline in volume from the left shoulder, to the head, and finally to the right shoulder. Aaaand the RSI of course is decreasing as well signalling an undervalued price. It's hard to say where it will go from there but I would say it would go to at least the previous high of the head around 1394. Anyways I have spent way too much time on this so I hope yall appreciate and I really hope my rambling makes sense. My decision-making fatigue is pretty maxed out by this point in the day. Safe trading.
by walkonwayvs
1