#Accumulation_Recommendation
Pair : #REN / #BTC
Technical Analysis
Pattern Creation : On the daily time frame of REN and BTC pair on Binance we have seen that a creation of a bullish engulfing candle stick with a good shape of a falling wedge. It is still trying to break out from the falling wedge and can't be considered as a confirmed call unless we see a close above the resistance line of the triangle.
Indications :
Volume showed a very good amount of increase on the yesterday candle but is currently showing a slow and decreasing volume level on today's scenario. This might be taken as an indication for a false pump if the trading volume continues to decline further by the following days.
- RSI looking good and on favor of the bulls but we still need a cross over by the MACD lines and seems to be on the way though. EMA is still above the current price at around 877 sats and need to go further downward below the price for a confirmed call.
Note : For a confirmed and confident trading move we need to break the price level represented by the red circle on the chart. And Volume needs to continue to be flood in for a more bullish trend too.
Even though its looks a risky trade at the moment, using a strict stop loss and risk management we can have a good profit for the mid term.
Accumulation Price Area : 790 sats - 820 sats
Distribution Targets
Target 1 : 872 sats
Target 2 : 920 sats
Target 3 : 973 sats
Target 4 : 1055 sats
Mid Term Targets
Target 5 : 1137 sats
Target 6 : 1202 sats
Target 7 : 1254 sats
Target 8 : 1402 sats+
Stop Loss : 681 sats
Capital Accumulation : 3%
Risk : High
@Togetherweaccumulate
Pair : #REN / #BTC
Technical Analysis
Pattern Creation : On the daily time frame of REN and BTC pair on Binance we have seen that a creation of a bullish engulfing candle stick with a good shape of a falling wedge. It is still trying to break out from the falling wedge and can't be considered as a confirmed call unless we see a close above the resistance line of the triangle.
Indications :
Volume showed a very good amount of increase on the yesterday candle but is currently showing a slow and decreasing volume level on today's scenario. This might be taken as an indication for a false pump if the trading volume continues to decline further by the following days.
- RSI looking good and on favor of the bulls but we still need a cross over by the MACD lines and seems to be on the way though. EMA is still above the current price at around 877 sats and need to go further downward below the price for a confirmed call.
Note : For a confirmed and confident trading move we need to break the price level represented by the red circle on the chart. And Volume needs to continue to be flood in for a more bullish trend too.
Even though its looks a risky trade at the moment, using a strict stop loss and risk management we can have a good profit for the mid term.
Accumulation Price Area : 790 sats - 820 sats
Distribution Targets
Target 1 : 872 sats
Target 2 : 920 sats
Target 3 : 973 sats
Target 4 : 1055 sats
Mid Term Targets
Target 5 : 1137 sats
Target 6 : 1202 sats
Target 7 : 1254 sats
Target 8 : 1402 sats+
Stop Loss : 681 sats
Capital Accumulation : 3%
Risk : High
@Togetherweaccumulate