REN broke out of this trend pattern last night/this morning at the $1.22 level, and now looks to reestablish itself in this new level with the new bottom around $1.30
With the current momentum it could brush this off and set a new support/bottom above 1.30 at 1.47, the price we are currently seeing action
TP targets for REN are:
Shwatup doe! Hope you are healthy wealthy and blessed <3
It is a wild and beautiful day in the world of crypto, I hope all of you are experiencing it in joy!
Now here we are looking at ALGO on the daily time frame, zoomed way out so BIG PICTURE ya; and what do we see?!
I have been simply drawing trend lines on this chart throughout the past month or so...
Shwatup doe! Hope you are healthy, wealthy and blessed!
Here we take a closer look at ALGOUSD on the 4 hour chart!
ALGO has been ranging between $.36 and .47 over the past few days; gaining strong support at $0.38 and at the current level of .3950
Volume and Money Flow have been increasing dramatically...
If .47 is broken, we could see a quick move to the $.53...
OMG, here we are again! Let's get to it!
The Fibonacci retracement from the high on May 22 led to the breakout and new high of August 21st, which appears to be a fractal of the same pattern on a larger scale.
Looking at the current breakout pattern, we should see the fib levels from the smaller fractal being repeated in this larger scale fractal.
From the graph it looks like we are on the 5th wave of the triangle Elliott Wave Correction (E on the graph), in the short history visible to us on this REN:USD pair.
The waves seem to be hitting the fib retrace levels from the .422 high on October 11th almost exactly, and this triangle correction has been bouncing between the .618 and the .312 areas, and the...
REN broke out of the ascending wedge pattern on the 4 Hour and is hovering around the .618 fib level, which forms the top of the wedge.
If this area holds (3.4-3.5), we should see the next levels on the fib retrace as targets for resistance and support ~ .38 and .42 respectively.
We are seeing a heavy correlation with bitcoin right now, so be sure to pay...