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🅱️ Bitcoin Renko | Daily Timeframe, Buy SignalThe Renko chart for Bitcoin (BTCUSD) on the daily timeframe gave the first buy signal after hitting support on 10-Nov. This signal was negated 21-Nov. and on the 30-Nov. and 13-Dec. two additional buy signals... Just to be negated again 19-Dec. but this time within a higher low. It's been a while since we read the Renko chart, we forgot completely about it but look at this... On the 11-Jan. came in another buy signal as BTCUSD moved above EMA10 daily and it continues green. No more sell signals. No more negations. A new green brick is in the process of being placed. Renko continues bullish as long as no red bricks are placed. Bitcoin is bullish on the daily Renko chart. The weekly is still red though. Thank you for reading. Namaste.
BITFINEX:BTCUSDLong
by MasterAnanda
7
Renko: ATR Shows Bullish, Traditional Suggests Bearish I have hammered out the aspect Ratios for the ATR Renko. I utilized a 100 bar ATR, for a stable average the bars move around. Being Renko boxes, a matching 100 frequency to the ATR amplitude was false; I needed twice the amps (length) to the frequency (width)...a 50 aspect (100•50). The results confounded my other methodology! The ATR has a bullish pattern, and the traditional Renko method is bearish? I need to observe, and maybe others will too. Also, the longer time frames function well but the ATR is out of the bounds (speculative) on the shorter 45 minute time frame.
SP:SPXLong
by privatepizza111
Renko: Bitcoin is at a critical pointRenko analysis shows that Bitcoin is at a critical point. Bitcoin is right below the support/resistance of the Renko swing area. Bitcoin is actually testing this resistance/ support level . Bitcoin's reaction to this support/resistance level is critical. If Bitcoin breaks up this resistance level and enters the swing area again, this can be an important signal about the trend change. In order to confirm a breakup, Bitcoin must be able to create a brick above the support/resistance level On the other hand, Renko brick 20 EMA resistance is also ahead. Based on the principles of Renko analysis, Bitcoin's reaction against these two resistances will be very important
BITSTAMP:BTCUSD
by cryptoonchain
1
Bitcoin - BTC Renko-chart Support zones⬜️🟦🟥 Bitcoin Renko-chart Support zones⬜️🟦🟥 Get a clean view by filter out the noise dear Crypto Nation🔇😉 BTC zones to keep an eye on👀 ⬜️$18k - $19k temporary lost 🟦$16k - $17k were we are now - green candle might come up🟩 🟥$11k - $13k Let me know your thoughts in the comments🤗 ⬇️⬇️⬇️ Likes and Follow for updates appreciated🤗 Disclaimer: Not financial advice Do your own research before investing The content shared is for educational purposes only and is my personal opinion
INDEX:BTCUSD
by Crypto4Everybody
Will WISH Share Bounce Back Soon as Renko Chart Tells us?ContextLogic (WISH) share price does not stop recording continuous and severe losses, while WISH share is trading below the $1 level now. While the sharp bearish tone prevails on the stock, as it traded below the short and long-term exponential moving averages. Now, on the Renko chart, and taking into account the previous RSI readings, we can learn that the long series of losses for WISH share price usually ends with the RSI reversing from the oversold territory as shown in the chart. Accordingly, we find that WISH share is now in the oversold area, while we keep an eye on the level of 0.6258, which may provide a possible rebound point for the share from the oversold area, to test the price range shaded in yellow, to target after that the level of 0.9786 in the short term. In the opposite case, the pullback of WISH share price below 0.6258 and the failure to recover it, may invalidate the previous hypothesis and may lead WISH share price to further decline towards new historical low levels. Concerning fundamentals, ContextLogic missed EPS estimates of -$0.16 per share by posting an EPS of -$0.18 per share, as well as revenue of $125M versus the projected revenue of $135.77M in the third quarter. Furthermore, the company anticipates additional operational losses in the fourth quarter ranging from $90-110 million.
WLong
by SamerHa
Update: What Is The RENKO Chart Saying? | BitcoinOn top of the candlesticks we also track Bitcoin using the Renko charting system. This is an update to the trade idea shared July 6. Bitcoin RENKO Buy Signal, Highest Volume Since 2019 BTCUSD Renko 4H We have higher lows ever since the 19-June bottom. Trading volume continues to increase. New green brick laid down, another buy signal. Trading above EMA10 and challenging EMA21. Note: This is short-term. These bullish signals are not yet present on the daily Renko chart. Still, the chart technicals are looking good. A bullish wave is due that will produce massive growth. It is already starting... We see how it goes. Namaste.
INDEX:BTCUSDLong
by MasterAnanda
3
ARRRUSDT 4hr 1dARRR has yet to go into buy territory. It has gone into the moku cloud, but that does not signify anything yet. This setup is meant to show clear trends, and all we have seen so far is a clear trend down followed by choppiness. If we can get above the cloud, and the cloud turns green, it would be safe to start cost averaging in. For now, the 10SMA has started flattening out as the price has gone beneath it and even below the 20SMA. Granted in this choppiness, these 2 lines crossing don't really make much sense. If you look at the regular candlestick chart for ARRR, it shows that we have hit a double bottom. Yet the indicators at the bottom are showing that we may be in for yet another drop. But it just goes to show that there is no need to panic buy or panic sell at this point. Just stay out or hold on to your position if any.
A
by tanreu
Continuing Updated Renko Trading StrategyIncorporating a timeframe into the Renko Strategy The Renko charts on Trading view with the plan that I'm enrolled in will allow for a Renko chart's timeframe from 1 minute to 1 day or longer. Although Renko charts are supposed to factor out time, a timeframe is still used to 'set' the block which is an important concept to the trading strategy When publishing an initial idea in TV, you have to have a timeframe of at least 15 minutes. This isn't what I typically use but do so to accommodate TV. On individual charts, I will use a TF between 5-11 minutes depending on the market's volatility. If the timeframe is set to a small number, the Renko block will be set sooner and could lead to churn in the strategy while having a timeframe set to a larger number will delay the setting of the block which can lead to missed entries or exits. Using a combo of larger block sizes and higher timeframes of 5-11 minutes have seemed to provide good setups for the option trading strategy I use (buying Puts/Calls simple strategy based on market direction) The web has good articles on discovering patterns and levels of resistance/support using Renko charts. Another important concept with good discussions on the web is pivot points ( pivotboss.com ) My current strategy is to combine the current configurations of Renko charts with their weekly counterparts with yearly pivots (traditional and camarilla). In the book on Pivot Points (see pdf), There is an excellent chapter on pivot point analysis and % of probabilities in price action against the levels. I believe that incorporating these yearly pivots side-by-side and the Renko charts and their indicators plus the Linear Regression indicators provide a good foundation for an option trading strategy of simple buying of puts/calls. Referring to the btcusd chart, I've overlayed the 2022 traditional s1 and the camarilla s4 on the Renko chart. Looking at the DEMA 12/20 averages, they're currently split in a bullish position (12 over 20). The 12-May low tested the 2022 S1 level which coincided with the 2nd STD low. This action could be setting up a support level the market could push off. I don't trade btcusd but track it because the market moves 24x7 which provides a lot of training material to learn for other markets.
BITSTAMP:BTCUSDEducation
by mxb1961
1