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!
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.