alanmasters

Is Ren Protocol Starting A New 190%+ Bullish Wave?

BINANCE:RENBTC   Ren / Bitcoin
RENBTC is now on an interesting spot, it broke below support but the volume is low for the bears and we have our indicators trending towards the bulls.

This setup can lead to some strong growth... but the first barrier to conquer is EMA10 at 0.00000457.
RENBTC needs to stay about this level if we want to see higher targets.

0.00000461 BTC is also the 0.786 Fib. retracement support for the Sept./Oct. bullish wave.
Conquering this level also supports the bullish move.

If prices for RENBTC moves and closes below 0.00000425, then we switch and put our bear hats on, as the lower support levels are likely to be tested (red arrows).

The strategy would be to buy when the support levels are hit and later sell for profits once the prices move up and hit our targets (magenta lines).

This is not financial advice.

Namaste.
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