REN/USDT Significantly oversold- opportunity to long?
Waiting for a trigger in a break from the down trend to long back to previous resistance lines.
Increasing downwards pressure on BTC could mean more downpour for Altcoins.
I view btc price to stay in the 39000 -41,000 range before bouncing upwards. This could happen on the next two daily candlesticks.
REN has more room to go down (0.29-30 region) based on previous support. Technicals however from my view point to a rebound happening in the next few 4hr candelsticks.
Initial target for a rebound would be previous support at 0.38340. As always we are waiting to test the downward trendline before longing further. I have placed a small long position already.
Thanks for viewing, this is not financial advice. Have a great trading day!
Increasing downwards pressure on BTC could mean more downpour for Altcoins.
I view btc price to stay in the 39000 -41,000 range before bouncing upwards. This could happen on the next two daily candlesticks.
REN has more room to go down (0.29-30 region) based on previous support. Technicals however from my view point to a rebound happening in the next few 4hr candelsticks.
Initial target for a rebound would be previous support at 0.38340. As always we are waiting to test the downward trendline before longing further. I have placed a small long position already.
Thanks for viewing, this is not financial advice. Have a great trading day!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.