MyCryptoParadise_Nathan

REN : Explosive Breakout Ahead! Bullish Signals Flashing

Long
BINANCE:RENUSDT   Ren / TetherUS
๐Ÿ’Ž REN has recently broken out of a descending channel, forming a W pattern on the support zone, signaling a potential reversal towards the bullish side.

๐Ÿ’ŽIf RENUSDT breaks above the first resistance zone, it will be considered a Change of Character (CHoCH), indicating a shift in market sentiment towards bullishness. This could lead to a bullish market structure from that point onward.

๐Ÿ’ŽIn the event of a pullback, we can anticipate a bullish bounce from the support zone. Given the overall bullish trend in the cryptocurrency market, it is advisable to align with the prevailing trend.

๐Ÿ’ŽHowever, if RENUSDT breaks down below the support zone, it would be prudent to refrain from trading REN in that situation. A breakdown below support would signify a bearish market structure, which goes against the prevailing trend.

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