It is looking to breakout soon... Lower highs and higher lows... decreasing and price being reduced.
- If RENBTC breaks down, you can expect to find support around the green zone. This is where support is found.
- If RENBTC breaks up, resistance can be found around the red zone. That is our main resistance.
- Additional sideways action is possible.
This is not a set up that I like. I wouldn't trade here because of the little info provided by the chart, and the fact that there is a good chance of this triangle breaking down.
Another way to trade is after breakout. With a strong close above MA99 (red line), is a signal.
Here is the daily chart:
Note: This is no trade advise. This is an analysis by request.
Thanks a lot for reading.
Make sure to hit LIKE. :)