The bears are roaring- 14/3: Price broke and closed under the long term trendline
- The bullish response the next two days was pitiful
- Price is likely to move towards support
- There it could get cornered between support and the downwards trendline where it could fuel momentum to travel North or South
- If it breaks and closes under support a head and shoulder pattern is confirmed
- Next significant level would be $3000,-
- As long as price stays under the downwards trendline the bears will stay
Keepitsimple
Will resistance hold?- Short-term trendline in the descending channel was broken
- Volume is high at the moment
- We want to see a clear break above resistance
- After that we want to see a clear break out of the channel (since 22/1)
- Early supporters reward program: X nodes >>> VET needs to be locked up before 20/3
WILL SUPPORT HOLD? - As predicted price travelled further South after breaking the previous support (now resisance) and bounced off support
- VEN is swimming from the weak hands to the whales
- The presence and manipulation of whales, in my opinion, is a long-term bullish signal
- NEWS of the week: DNV GL and VEN launch My Story TM / VEN Launches X series nodes
- A channel is forming
- If support holds >>> bullish until resistance
- If support fails >>> bearish until next support
Will support hold? - As predicted price travelled further South after breaking the previous support (now resisance) and bounced off support
- VEN is swimming from the weak hands to the whales
- The presence and manipulation of whales, in my opinion, is a long-term bullish signal
- NEWS of the week: DNV GL and VEN launch My Story TM / VEN Launches X series nodes
- If support holds >>> bullish until resistance
- If support fails >>> bearish until next support
Keep it simple pals !!!!-trend lines
-1year Fib levels
-RSI 14
-Support and Resistance
RSI14 divergence on H4 suggest that the uptrend is losing momentum as you can see in past examples highlighted on the chart....
Scenario 1: break below 1338 would confirm this analysis so: enter trade at 1337 with SL at 1343-44 and TP 1329-28 (1h-4h time frame)
Scenario 2: break above 1347 would invalidate this analysis so: enter trade at 1348 with SL at 1343-44 and TP at 1356-1358 (1h-4h time frame)
Scenario 3: break above 1347 in order to test 1356 o.00% Fib 1 year level so after closing trade of scenario 2, enter again short with SL above 1360 and TP around 1337-1340 support. (1D time frame)
No news to watch, only price action, good trading to all of you !!
Actually Position - Long Opportunity Chart: Daily
If you look at the weekly chart, you can see that we have a strong long trend. So I think the next big movement could be the continue of the trend. Thats why I placed a Market Order, and now we just have to wait! Maybe we know more after the big economic event on Thursday in Europe or on Friday in Japan!
Stay tuned!