VET IS TRICKY
Updated
I spotted this divergence between price and indicators few weeks ago but i did not tried to catch the falling knive as I was not sure of the support and I putted a stop buy above the break down on 13 august.
I was very concerned about short VET after the failed break out of 22 august and a double W formation on BTC pair
Actually the indicators are still on linear growth, the triangle formation is still intact and there was no sell out untill now despite this double W formation. The RSI despite declining tops, seems to be able to push higher again. So I 'm still in.
I see for this reason more upward movement actually as possible.
Looking back at the VEN/USD Pair of binance there is a strong resistance at 0.02 dollars (2 dollars of the VEN/USD pair).
In case of break out of the triangle this would be my max target.
Based on the flag formation is 0.025 possible but I would be conservative.
Break down of triangle is a sell.
BIO
I was very concerned about short VET after the failed break out of 22 august and a double W formation on BTC pair
Actually the indicators are still on linear growth, the triangle formation is still intact and there was no sell out untill now despite this double W formation. The RSI despite declining tops, seems to be able to push higher again. So I 'm still in.
I see for this reason more upward movement actually as possible.
Looking back at the VEN/USD Pair of binance there is a strong resistance at 0.02 dollars (2 dollars of the VEN/USD pair).
In case of break out of the triangle this would be my max target.
Based on the flag formation is 0.025 possible but I would be conservative.
Break down of triangle is a sell.
BIO
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Breakout against ethereum.. Note
In bitfinex they put ven higher than binance
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Rsi had a bearish divergence and it is in a rising wedge. Volume is increasing. There will be probably another impulse if rsi doesnt break up strongly then it will probably break down
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It's difficult to forecast the next steps. If it goes up from here we open to a double bearish harmonics which is a strong reversal SituationIf we go down we enter in a falling wedge, which will be possibly a strong bullish opportunity to come out of the downtrend
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VEN pair in Bitfinex to Show you the downtrend lineabove the line we enter in a strong bullish Phase.
Down is not good, and I will follow with a lot of Attention a possible pattern that bring out of the channel
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VET loosing momentum against bitcoin. Difficult decision. Main trendline is near
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I see bullish flags on other coin (neo/USD for example) and triangle Formation (IOTA). retest of the trend line will probably hold.
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If bounce i will trade this channel
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Vet is back?
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