Today's Position Analysis $RENDER

From the daily level, RENDER pulled back to the Fibonacci 0.382 position of 4.9, and maintained a period of shock along the support line, and finally fell below the 0.382 position, and is testing the Fibonacci 0.236 support position of 4.3. And the volume and price behavior at the daily level does not meet the stage of panic selling, so it is still necessary to wait for the confirmation of the range. From the perspective of the RSI relative strength index, it is below the moving average and is not in a downward trend. Pay attention to whether it can break through the lower track and enter the oversold stage in the future.

From the four-hour level, it failed to break through the resistance range of 5.05-5.13 twice, forming a small-level M-top bearish pattern. It depends on whether the previous low of 4.3 will be tested or directly broken in the future. If it breaks directly, it is considered to be a break of the range, and consider entering a short position in the subsequent pullback. If the position near 4.3 can be stabilized, it is necessary to observe the appearance of the SOS signal in the future.

From the VPVR chip concentration area indicator, the chip concentration area below is around 3.7-3.9, and the chip volume is relatively large, so there should be strong support. The chip concentration area above is around 4.6, which will form a relatively strong pressure.

So we consider entering a short position at the position of the chip concentration area.

Short: 4.6-4.63

Take profit: 4.35, 4.3, 4.1

Stop loss: 4.7