Long
RENUSDT (REN) - BULLISH SETUP
ANALYSIS 🔎
- RENUSDT hit a swing high and retraced.
- Price is retesting the flip horizontal support (FHS) and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- The retracement was bounded in the falling wedge (FW) pattern.
- The falling wedge pattern is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance as expected.
- Price action is printing the inversed head and shoulders (IH&S) pattern.
- The inverse head and shoulders pattern is a bullish reversal pattern.
- We could be at the verge of an uptrend continuation.
BUY ENTRY ⬆️
- Conservative entry : breakout above the inverse head and shoulders neckline resistance (NR) / (R1).
- Aggressive entry : market price.
TARGETS
- Horizontal resistance level (R2).
- Horizontal resistance level (R3) / swing high.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the right shoulder's horizontal suppor level (S1).
- RENUSDT hit a swing high and retraced.
- Price is retesting the flip horizontal support (FHS) and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- The retracement was bounded in the falling wedge (FW) pattern.
- The falling wedge pattern is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance as expected.
- Price action is printing the inversed head and shoulders (IH&S) pattern.
- The inverse head and shoulders pattern is a bullish reversal pattern.
- We could be at the verge of an uptrend continuation.
BUY ENTRY ⬆️
- Conservative entry : breakout above the inverse head and shoulders neckline resistance (NR) / (R1).
- Aggressive entry : market price.
TARGETS
- Horizontal resistance level (R2).
- Horizontal resistance level (R3) / swing high.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the right shoulder's horizontal suppor level (S1).
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.