REN/USDT Significantly oversold- opportunity to long?

Waiting for a trigger in a break from the down trend to long back to previous resistance lines.

Increasing downwards pressure on BTC could mean more downpour for Altcoins.

I view btc price to stay in the 39000 -41,000 range before bouncing upwards. This could happen on the next two daily candlesticks.

REN has more room to go down (0.29-30 region) based on previous support. Technicals however from my view point to a rebound happening in the next few 4hr candelsticks.

Initial target for a rebound would be previous support at 0.38340. As always we are waiting to test the downward trendline before longing further. I have placed a small long position already.

Thanks for viewing, this is not financial advice. Have a great trading day!