REN/USDTPERP Long-Term Trend: Bullish
Key Resistance Levels: 0.59260, 0.67060, 0.80360.
Key Support Levels: 0.50575, 0.47295, 0.42015.
The price on the higher time frame managed to break the wedge formation to the upside by posting double bottom. The price is in a clear upward movement where it is traded inside a bullish channel pattern. A continuation of the upward movement is expected in the same direction of the main trend,
REN/USDTPERP Medium-Term Trend: Bullish
On the lower time frame, the price is bouncing inside a bullish channel formation where a bullish engulfing pattern has been left showing that the buyers are in control. The price as well found buyers around the lower end of this channel which led to a continuation of the trend to the upside. A lower correction could be seen before the bullish impulsive wave.
Buy Limit Order @ 0.54550
TP 1 @ 0.59025
TP 2 @ 0.59260
Stop Loss @ 0.52320
Trade Safely 🙂