At Coin Inquire, we offer free price signal of Ren Protocol (REN) and other cryptocurrencies. Today July 22 we are beginning a new series of free signals for top cryptocurrencies including Ren Protocol (REN).
Ren Protocol ( RENBTC ) has been great to us paying great profits each time we trade it.
Found this one on the Full Moon back in February with a trade that generated over 100% profits… You can see it here:
Then again over 180% of profits collected in May, you can see it here:
We noticed that RENBTC is moving ahead of the pack and that is why we want to call your attention to this chart today.
After a long or strong period of growth, we tend to see a long/strong retrace, but RENBTC moved down only to the 0.618 fib. retracement level from the last bullish wave and went on to grow by as much as 80% in just 4 days with the chart looking pretty bullish.
With many altcoins hitting new lows, consolidation and starting to move up, this can be taken as a signal that the altcoins market is starting to wake up.
As for RENBTC, it is likely to retrace before continuing up, but it all really depends on today’s candle close.
If the last high can be broken (magenta), you can expect RENBTC to move higher. If not, you can expect a retrace + consolidation before the signals start to develop for the next move.
We believe that most of the altcoins, about 80-85% will start to move positively soon.
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.