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AlanSantana
Jan 6, 2019 2:22 PM

Republic Protocol (RENBTC) Quick Analysis by Request 

BINANCE:RENBTC240
Ren / BitcoinBinance

Description

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RENBTC is looking good but with mixed signals.

It is looking to breakout soon... Lower highs and higher lows... Volume decreasing and price volatility 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 bullish 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. :)

Namaste.
Trend AnalysisTechnical IndicatorsBeyond Technical AnalysisRENRENBTCrepublicprotocolbinancebittrexbitfinexhitbtcalanmastersAMT
Comments
relaw
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Thank you Alan for your thoughts but this is very strong project because of this medium.com/republicprotocol/wrapped-bitcoin-wbtc-a-bitcoin-token-community-project-started-by-bitgo-kyber-and-republic-599c9abc8139 and because of this medium.com/republicprotocol/ren-collateralized-nodes-introduction-to-darknodes-566d7a5d2899.

Namaste!
AlanSantana
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@relawiszcze, Thanks a lot for sharing.
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