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Render Ready For A 50% Cut?
As the market begins to show signs of weakness at macro resistance a lot of assets are looking at a possible retrace if BTC fails to brake above 32k.
Looking at the daily close line chart of Render a 50% cut brings price right into typical technical levels for a macro "bullish retrace".
So far we can see that the long running up trend has broken to the down side and if it fails to reclaim it soon a 50% becomes a more likely reality.
Looking at the money flow on wave trend indicators we can also bearish divergence forming as price put in a higher while the money flow is putting in a lower high.
Looking at the daily close line chart of Render a 50% cut brings price right into typical technical levels for a macro "bullish retrace".
So far we can see that the long running up trend has broken to the down side and if it fails to reclaim it soon a 50% becomes a more likely reality.
Looking at the money flow on wave trend indicators we can also bearish divergence forming as price put in a higher while the money flow is putting in a lower high.
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