Time Frame: Daily, 4Hour, and Hourly
Welcome back! Day 85 of the 100 Days of TA is here! Today's spotlight is on REN (RENBTC). I talked about the next direction of POLYMATH and the whys. I showed some high probability setups here, what usually happens and what would happen.
Have fun watching today's video! If you think there's something I should add or...
BINANCE:RENBTC dumped massively since beginning of September but seems to have found a bottom since. The chart is giving us plenty of signs that it was just a fallback within a long term uptrend. Price is now back at crucial support giving us a great entry.
We opened a new trade for our members.
-After the broken trendline of support break down
-The price fell down by -30% its value
-The next major of support is located at 2100 sat range
-This is a previous key resistance before the strong uptrend last August 10
-Let's wait if REN can hit this area of confluence and look for a buying opportunity
**If you like my daily Published Ideas,...
REN is another solid performer as one just has to look at its past price action.
I am anticipating after a peak like this one, it will pull back to the 21/34 EMA and\or the top of its previous channel and continue.
I did see this with both KAVA and LINK so the likely chance REN does the same.
There isn't much words since this post is about stalking...
REN looks prime for a LONG here !
After breakout and confirmation, we can see REN gain over 60%.
For Long term holder can be easily 5x by end of year.
If we buy at CMP and the market goes in our favor then so be it, but if it retraces we can DCA more and get a good average price and then go up from there.
Remember REN is a huge GEM so we can see huge potential...
-since the last Buy priority signal from Cross Ultimate indicator
-the price went up over 200% til now
-there are multiple entry points during its strong uptrend
-showed in the chart for good pullback entries or breakout entry
-REN also hits an ATH on exchange history
-I do not recommend to buy at current levels
-wait for a corrective pullback and...
What looks like a giant "W" or double bottom formation breakout.
A bit late posting this as it is 30+% over the breakout point.
Still roughly 150% to go if potential target is hit.
Lettuce pray for this meme.
Happy trading :)
-breakout and new higher high
-new immediate support at 0.071s
-the cross ultimate indicator flashes a Long signal
-trading priority is to the upside
-the potential target is the swing top at 0.0869s+
-key stoploss below immediate support
REN is still forming a series of higher lows and manages to get above the 50D MA.
If REN can hold current levels or retest the 50MA as new support.
We could see a potential small rally up to 870 sats and if the downward trendline is broken.
The next upside target is up to 1000 sats, our stop-loss is placed under 600 sats.
REN is showing signs of strength after the price bounces from the downward trend-line of support at around 420 sats area. REN is painting a potential Higher Low setup and an EMA cross.
The price is currently testing the downtrend of resistance and facing a little hesitation to break bullish. We could see REN consolidate in this area within a week before...
Entry : 0.00000461 - 0.00000413
Target 1 : 0.00000535
Target 2 : 0.00000603
Target 3 : 0.00000714
Target 4 : 0.00000819
Target 5 : 0.00000924
Stop loss : 0.00000405
Risk/Reward : 15%/105%
Do not hurry to buy, the price may go down to good places
Please share your opinion in the comments box and do not forget to press the like button
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