Long
REN fails to hold trendline in ascending channel
FYI: I'm just getting started. Just want some feedback and thought of the community if possible.
REN seems to have broken the lower diagonal trendline in given ascending channel. I would have assumed that while approaching the lower diagonal trendline with a decreasing volume we would have bounce back, however it didn't happen. It seems we have have a downward momentum towards the next resistance zone (0.85 - 0,88). Even though 1$ seems to be a strong (psychologic?) support, I think with correlation that BTC has one other leg down to go we are facing this last resistance zone and hopefully break the right upper diagonal line.
Is it a smart idea to keep DCA until we reach this resistance zone? I started buy orders from 1.176 to 1,03$ with an average of 1,11$. Still have some liquid left to reduce my average buy. My wishful thought will be to sell 50% of my stack at the 2,61 fib level at approximately 3,20$ and let my profite ride.
However I'm bit concerned with the current decentralization in the REN project, even though it's for security reasons, it's still a pitfall.
What are you thoughts guys?
REN seems to have broken the lower diagonal trendline in given ascending channel. I would have assumed that while approaching the lower diagonal trendline with a decreasing volume we would have bounce back, however it didn't happen. It seems we have have a downward momentum towards the next resistance zone (0.85 - 0,88). Even though 1$ seems to be a strong (psychologic?) support, I think with correlation that BTC has one other leg down to go we are facing this last resistance zone and hopefully break the right upper diagonal line.
Is it a smart idea to keep DCA until we reach this resistance zone? I started buy orders from 1.176 to 1,03$ with an average of 1,11$. Still have some liquid left to reduce my average buy. My wishful thought will be to sell 50% of my stack at the 2,61 fib level at approximately 3,20$ and let my profite ride.
However I'm bit concerned with the current decentralization in the REN project, even though it's for security reasons, it's still a pitfall.
What are you thoughts guys?
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.