Despite the powerfully momentous sell off since the REN ICO, we have seen a very aggressive reaccumulation from the markets constituents under 0.00200000. The short term trend is looking rather Bullish. On Balance Volume is drastically under the trend angle, indicative of an obvious accumulation opportunity for institutional traders. The Possitive DMI is above the 20 line and is about to bounce off the ADX, which is also above the 20. We can see that the Tenkan-sen and Kijun-sen are about to cross in Bullish behavior. We can also see that the Kumo Cloud is about to Twist. Likely the strongest indicator to be taken here in terms of market repectecting an indication. Price is consolidating above the Point of Control and my speculative Take Profit targets are based off of High Volume and Low Volume Node mountains and valleys as we should all know how price likes to move from LVN to HVN and vice versa. TPs are also in confluence with a Fibonacci extension taken from the latest reaccumulation swing directly after the Climactic Sell off. If I were to take this trade, I would use the pertinent values of the Ichimoku Kinko Hyo relative to that point in the future. Please let me know if you have any input here.
For a bit of fundamental analysis, the parent company of REN is MSFT. The current strong bullish trend for Microsoft has been mirrored by RENTBTC and RENTBNB on BINANCE. And general adoption of aunanoymous coins is ground exponentially accross all exchanges.
Thank you for taking the time to read this.
For a bit of fundamental analysis, the parent company of REN is MSFT. The current strong bullish trend for Microsoft has been mirrored by RENTBTC and RENTBNB on BINANCE. And general adoption of aunanoymous coins is ground exponentially accross all exchanges.
Thank you for taking the time to read this.