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Ren / Bitcoin

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RENBTC trade ideas

REN.BTC (Y21.P1.E1).Macro.TAHi All, Looking from bullish perspective in the coming weeks and months, we can stipulate price action as long as some conditions are met. These stipulations or assumptions have to be confirmed along the way, otherwise this "THESIS" is only that. Having said that, lets move on. Have you heard of the bump and run strategy, if you havn't, then you wont understand this chart the way you should so do yourself a favor and learn it. Why, its bloody all over the crypto charts if you know it and understand, even better, you can add it to your strategy. So I have stipulated that the current area is sitting below this trend line as its major resistance. I have nothing to confirm this yet, but as time goes by, we will see it confirmed on the daily and then the lower time frames. If this is the case, and price breaks this trend line, then that is the biggest obstacle and hence a tick on the check list. We also see the fib levels and resistances in confluence. If price breaks both the horizontal resistance and the sloping resistance line, gets tested, knowing we confirmed later on its resistance, then we would expect it to be tested. Depending on the time frame and formation of the price action, we should have a green light or not to enter. This is the spot I will be watching hopefull, not distractted by other charts. From time to time I will update this post with charts and some quick notes. For now, its watching and stalking. All the best, S.SAri
Long
by ssari
3
Ren (REN) More Explosive Growth 2021The REN project is another fundamentally sound DeFi project that is poised for major growth in 2021. A decentralized protocol that allows for users to transfer cryptocurrencies from one blockchain ecosystem to another. This project already has major utility being used on a daily basis and will only continue to grow with the growth of DeFi and the overall cryptocurrency market. Currently the USD pairing is in price discovery and trading at all time highs. However, REN still has yet to hit a new price discovery against its Bitcoin pairing. This indicates that REN still has a lot more room to grow. Another factor to consider is that REN currently has a circulating supply of 995,363,051 REN and only a max supply of 1,000,000,000 REN. REN is getting closer to reaching it's max supply which will also play a role in price increase this year. Also the according to the analytics firm Santiment has recently reported that whale accumulation for REN skyrocketed in Januarys which also indicates the increasing demand for REN. Our next stop for REN is at Fibonacci level 0.5 at 2925 Satoshi. Once we fully break past the 0.382 expect a runup to test 2925 Satoshi. Keep REN on your radar this year for 2021. As always much peace and love!
Long
by peacefuljustin
REN is ready to go upLast week, REN / BTC hit a rough patch after a strong start to the year. REN is used for ‘wrapping’ assets on Ethereum and is pretty popular. REN is needed to create a ‘darknode’, which wraps BTC, BCH, and ZEC, bringing them to the Ethereum network. Darknodes earn fees and with the wrapped BTC (or other asset) holders have it both ways: they keep their Bitcoins while also interacting with DeFi and earning fees on various platforms. Over $540 million worth of Bitcoin is now wrapped with REN. To see if REN’s rally would continue in the short-term, we’ve asked the following question on Cindicator’s Hybrid Intelligence platform: “The cryptocurrency Ren (REN/BTC) settled at 0.00001839 BTC at 08:03 AM UTC at the binance exchange on Monday, January 25. In your opinion, will REN/BTC trade above 0.00002181 BTC (+18.59%) at any time before February 8?” Assurance: 74% So Hybrid Intelligence believes that REN will go up over the next two weeks. This is not unrealistic given that in BTC terms, REN is still far from its August all-time high or even its October levels.
Long
by Cindicator