We all know that markets behave very cyclical. Top to top and bottom to top days are almost exactly the same (give or take a few days).
If the amount of days stay the same, we could see a market top at the end of 2023 or at the beginning of 2024.
VeChain is also printing an inverted H&S. This is a bearish to bullish reversal pattern. And it started exactly at the 600 day when the bottom was in.
We will see what happens at the next 8 months.
If the amount of days stay the same, we could see a market top at the end of 2023 or at the beginning of 2024.
VeChain is also printing an inverted H&S. This is a bearish to bullish reversal pattern. And it started exactly at the 600 day when the bottom was in.
We will see what happens at the next 8 months.
Note
Touched the longterm support. Let's see what it does in the upcoming weeksNote
I changed the channel a little bit. The first top was back in early 2018 when VEN reached around $8. Which means the channel started then and not in July 2018 like shown here which makes the channel a bit more flat. With that in mind, i think that the next ATH is in May of 2024 at $1. RSI is also in bull market regions which it hasn't since previous ATH (0.28). So in conclusion the bottom is in, bull market has started and we will see a new ATH in May of 2024.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.