Ren/USDT is about to make a massive move to the upside.
It’s last run was 2000% before pulling back roughly 60%.
I plotted the same measurement on the recent pullback and is roughly 60% as well, if it replicates the same move in the coming months we could see Ren/USDT hit $3.5.
We can see clearly that its formed a beautiful Bull pennant, which has now broken...
It's clear that we are within an uptrend channel since BTC listing.Each pullback in the previous bull runs has been roughly 30%. Now that bitcoin has seen a local top at 35k zone, the pullback i'm looking for is roughly 30%, which is the $23700 as support zone 1, which happens to be flush with the top of a weekly candle. Support zone 2 sits at $19700. You will...
Cup & Handle Formation on the weekly.I plotted the price % from last low to top and that worked to roughly 700%.I cloned that move and this flush with the 461.8% Fib. On successful breakout the target sits at the 0.073 zone.
Tomo has formed a beautiful Bull Flag formation on the Weekly. Its previous run was roughly 640%, so I plotted the same measurement if the Bull Flag plays out, and the price target sits at $3.3 zone, which sits flush with the 261.8 Fibonacci extension level. This move is a 6x return.
So on my previous EW analysis you will see that my target was $9000. Now that that target has been reached what is the next move?
So the rule on corrective waves are that wave C, will often correct to the territory of wave 4 to the lesser degree(4 hour chart). My 9k target was the completion of wave C on a 1 day chart. The pink analysis is on the 4 hour chart...
Were on the final corrective wave C, which is headed to the 9000 level. Then probably back down to the 8400 support and hopefully the market becomes bullish and the first wave pattern on Elliott Theory should be the $9500 area.
