Long
RENDER - Ready To Pop
Render is printing a delightful low time frame snowflake.
It is a coiling and very shallow descending channel.
In higher time frame this channel is printing on the 0.786 overshoot ratio of the 1:0.618 with only wicks below:
The 0.786 is a common ratio for a pivot.
And that can potentially complete a 3 wave correction leading into the next wave up.
The 1:0.618 is a weak ratio since the third wave would be shorter than the first.
The signals downside weakness.
This looks ready to pop if Bitcoin can drift on up 👍.
Not advice
It is a coiling and very shallow descending channel.
In higher time frame this channel is printing on the 0.786 overshoot ratio of the 1:0.618 with only wicks below:
The 0.786 is a common ratio for a pivot.
And that can potentially complete a 3 wave correction leading into the next wave up.
The 1:0.618 is a weak ratio since the third wave would be shorter than the first.
The signals downside weakness.
This looks ready to pop if Bitcoin can drift on up 👍.
Not advice
Note
Trade closed: target reached
Popped exactly as suggested but has now turned bearish.Note
Looking for buys again in this area.Note
We had another compression fractal.This time it was a contracting triangle.
Looks like it is now full breaking out 👍
Note
RENDERNice little bowl (bullish) and bullish RSI divergence coming in.
Could extend and chop but likely to pop up from this area soon 👍
Note
It did pop and moving on up nicely.However there are some concerns with the Bitcoin chart and I'll be taking profit on altcoins such as RNDR when it hits.
And will look for re-entry later
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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.