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Ren / Bitcoin

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RENBTC trade ideas

RENBTCRENBTC update Entonnoir : W/D/H4 (swing) Configuration propre sur REN. Biais haussier en weekly et le daily est également haussier et vient de faire un rebond sur la borne supérieure de la compression weekly (blanc). Attendre la prochaine compression daily et se placer à l'achat si elle casse par le haut me semble tout indiqué. ————— Funnel : W/D/H4 (swing) Nice configuration on REN. Bias is bullish on weekly and the daily is also in uptrend and just did a throwback on the upper side of the weekly compression (white). Going long on the next daily compression breakout would be a good way to catch this train.
by Somstradamus
1
Ren Price Analysis REN / BTC: Return Of The BullsRen / Bitcoin Short-term price analysis Ren has a bullish short-term trading bias against Bitcoin, with the REN / BTC pair well-supported on any technical pullbacks. The four-hour time frame shows that the cryptocurrency has performed a bullish breakout from a falling wedge pattern. Buyers are now attempting to move the REN / BTC pair back towards its all-time price high. Technical indicators across the four-hour time horizon currently have a slight bullish bias. Pattern Watch Traders should note that a bullish inverted head and shoulders pattern will form if the bulls move the REN / BTC pair back towards its all-time price high. Relative Strength Index The Relative Strength Indicator on the four-hour time frame is bullish, but it is generating a fairly weak buy signal. MACD Indicator The MACD indicator on the four-hour time frame is neutral and is currently failing to generate a clear trading signal. Ren / Bitcoin Medium-term price analysis Ren has a bullish medium-term outlook against Bitcoin, with the REN / BTC pair recovering back above key resistance on the daily time frame. The daily time frame shows that the cryptocurrency has been extremely volatile since breaking above the neckline of an inverted head and shoulders pattern. Buyers are currently attempting to stabilize the REN / BTC pair back above the breakout point on the mentioned time frame. Technical indicators on the daily time frame are bullish and continue to generate a buy signal. REN / BTC Daily Chart by TradingView Pattern Watch Traders should note that the bullish pattern on the daily time frame has yet to reach its full upside potential. Relative Strength Index The RSI indicator is starting to recover higher, following a much-needed technical correction. MACD Indicator The MACD indicator is bullish on the daily time frame and continues to generate a buy signal. Conclusion Ren is starting to recover above key technical resistance on the daily time frame against Bitcoin, following a period of extreme volatility. If short-term buyers can move the cryptocurrency back towards its all-time price high it would provide a strong indication that the recent bullish breakout is back on-track.
Long
by CryptoBriefingTA
1
Ren Price Analysis REN / BTC: Testnet ExcitementFundamental Analysis Ren is gaining momentum prior to the launch of RenVM Testnet. The team has spent a month focusing on improving its stability and is getting close to the actual release. This is an important milestone for the project, since it puts it closer to the launch of RenVM Mainnet. Ren / Bitcoin Short-term price analysis Ren has a bullish short-term trading outlook against Bitcoin, with the REN / BTC pair advancing to a new all-time price high. The four-hour time frame shows a series of invalidated head and shoulders patterns, with the REN / BTC pair already achieving its bullish invalidation target. Technical indicators on the four-hour time frame are bullish and continue to issue a buy signal. Pattern Watch Traders should note that a technical correction may occur now that the REN / BTC pair has reached its upside objective in the short-term. Relative Strength Index The Relative Strength Indicator on the four-hour time frame is bullish, although it is trading in extreme overbought territory. MACD Indicator The MACD indicator on the four-hour time frame is bullish and continues to generate a strong buy signal. Ren / Bitcoin Medium-term price analysis Ren has a bullish medium-term outlook against Bitcoin, with the REN / BTC pair performing a major technical breakout on the daily time frame. The daily time frame shows that the recent advance in REN / BTC pair has created a large inverted head and shoulders pattern, with the cryptocurrency now trading above the neckline of the bullish pattern. Technical indicators on the daily time frame are bullish and continue to generate a buy signal. REN / BTC Daily Chart by TradingView Pattern Watch Traders should note that the overall target of the bullish pattern on the daily time frame would add more than seventy percent to the value of the REN / BTC pair. Relative Strength Index The RSI indicator is bullish on the daily time frame, although it is starting to appear overbought. MACD Indicator The MACD indicator is bullish on the daily time frame and is generating a strong buy signal. Conclusion Ren has enjoyed eight consecutive days of trading gains against Bitcoin, with the REN / BTC pair advancing to a new record all-time trading high. The newly created bullish pattern on the daily time frame is warning that the REN / BTC pair could continue to make substantial gains over the medium-term.
Long
by CryptoBriefingTA
1