THELOGICALINDIAN - REN has cogent abeyant over BTC
Ren / Bitcoin Short-term amount analysis
Ren has a bullish concise trading bent adjoin Bitcoin, with the REN / BTC brace bouncing from its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy shows that REN / BTC beasts are alive adamantine to invalidate a bearish arch and amateur arrangement and activate the abutting upside breakout.
Technical indicators beyond the four-hour time border are bullish and abide to affair a buy signal.
Pattern Watch
Traders should agenda that the REN / BTC brace could abatement acutely if amount avalanche beneath the neckline of the bearish arch and amateur pattern.
Relative Strength Index
The Relative Strength Index on the four-hour time anatomy is bullish, although it is starting to actual from overbought conditions.
MACD Indicator
The MACD indicator on the four-hour time anatomy is bullish and continues to accomplish a buy signal.
Ren / Bitcoin Medium-term amount analysis
Ren has a bullish medium-term angle adjoin Bitcoin, with the REN / BTC brace bouncing acutely from key abstruse abutment on the circadian time frame.
The circadian time anatomy shows a able abstruse blemish is currently underway, with the REN / BTC trading aloft the neckline of ample astern arch and pattern.
Technical indicators on the circadian time anatomy are conflicted and are declining to accomplish a bright trading signal.
Pattern Watch
Traders should agenda that the all-embracing upside bump of the bullish astern arch and amateur arrangement would booty the REN / BTC brace to a new best trading high.
Relative Strength Index
The RSI indicator is bullish on the circadian time anatomy and shows ambit for added upside.
MACD Indicator
The MACD indicator is conflicted on the circadian time anatomy and is currently declining to accomplish a bright trading signal.
Conclusion
Ren is attempting to achieve bullish drive on the four-hour chart, with REN / BTC buyers now defective to invalidate a bearish arch and amateur pattern.
Large bullish arrangement on the circadian time anatomy still suggests that the cryptocurrency has abundant upside abeyant adjoin Bitcoin over the medium-term.
