REN.USDT (Y20.P4.E1).Price Action explained

Hi,

Keeping it short as I'm looking for an entry as this has shown some strength and the pullback is in progress.
I have 2 levels of interest, here and the blue one.

OBSERVATIONS:
======================================
> Bottom structure\reversal seems to be complete and is unlikely to test all the way down as per neckline, if so, too deep and hence not interested;
> On the 4 HRLY, we have confluence with the MA and fib. levels (min. requirement is 2 elements) with confluence;
> We have convergence with the MACD;
> Now we are looking for that bullish candlestick on the 4 hrly or possibly 2 hrly;
> And we have an uptrend on the smaller time frames, hence this is not something I'm saying to go Macro long; Just an potential opportunity until stopped out.


Lets see how we go on this likely opportunity;

Please give me a like or tick for this post.


Regards,
S.SAri

Closeup

Daily chart: Phoeix and Macd show upward pressure;
Price above all 4 ema's.

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A bullish setup, it regained that supporting trend line and now it needs to hold.

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