Long
another falling wedge
So, it looks that most of the coins which pumped in January are setting up to pump again in this period. At least those I'm stumbling into.
REN had a great run since end of December and now it looks at the end of this falling wedge, this looks clearly into a reversal (already started). If BTC doesn't mess up the market it should break out soon, however ADX+DI shows that the momentum is uncertain so I would suggest to enter only 30% now and wait for price to test 1.11USDT. Afterward, if it keeps going up you can buy the rest.
Very often wedges get retested after the breakout, I've a feeling this will. I might be wrong but this is my feeling. Stop loss is the bottom of the wedge and the maximum target is on the chart.
REN had a great run since end of December and now it looks at the end of this falling wedge, this looks clearly into a reversal (already started). If BTC doesn't mess up the market it should break out soon, however ADX+DI shows that the momentum is uncertain so I would suggest to enter only 30% now and wait for price to test 1.11USDT. Afterward, if it keeps going up you can buy the rest.
Very often wedges get retested after the breakout, I've a feeling this will. I might be wrong but this is my feeling. Stop loss is the bottom of the wedge and the maximum target is on the chart.
Note
REN broke out at 4h and now is about to retest the triangle. Wait for confirmantion of an uptrend before making moves and check my former TA
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.