VeChain: Cup and handle | VET SUPER BULLISHVeChain went out of the consolidation phase Sunday 02/05. A lot of people thought it would immediately break out.
But VET did something else. He formed a cup and handle.
What is a cup and handle pattern?
William O'Neil's Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. The cup forms after an advance and looks like a bowl or rounding bottom.
A summary, I think VET is going to explode after this, it just touched the bottom and I think it will rise a lot when breaking through the second swing high (second triangle).
I really think VET is a top gainer!
Vechain
VET DAILY TRADE #12 --> Bullish triangle days behind us?We are on the downside now of that triangle, there may be some trend lines to fit us back in there, but how many times have we adjusted them lines?! At some stage you have to let the pattern go.
I see the upper descending trendline, that's significant. I also see the support levels. And I feel tremendous pressure and connection to BTC price action. It is our gravity currently tying us together.
There is an opportunity to buy here ontop of support and hope that BTC holds long enough for us to touch the upper trend line and take profit.
I want to recommend it to ya'll but... BTC is too volatile right now. There WILL be a period of a day or 2 this week where ALTs can pump and we can see VET make that move but right now I feel its too risky.
VET BET12 our, long term. Setup nicely for a bullish inverse head-and-shoulders. Lows to $0.172 are tolerable, and price should return to the neckline at $0.22. Break above green neckline: $0.30 Target.
VET / USDT Key Support and Resistance AreaJust an analysis for the key trendline, support and resistance areas for VeChain (VET) against USD.
Intersting, how Fib retracement lines coincide with key points of the former support.
Will be following the price. If BTC continues its correction - support levels are here to keep an eye on.
If not - VET will be looking to break up from the channel and go for the new ath.
VET Vechain/USDSlightly adapting & analyzing this amazing project/pair.
at the end it's a market, you gotta adapt to the price action.
as shown, a really nice heading upward on the up-trend line.
3 touches so far, might be the last one.
altcoin season. Eth needs to cool off now, BTC dominance at 45%
VET DAILY TRADE #11 --> BTC fiendishly stabs VET!WE STILL IN UNCERTAINTY LAND GUYS!
The moral of my VET trades hasn't changed much. Buy on the trend line. VET fell sharply, and briefly, below the current trend line I've been using. Its created potentially a new trend line that I've drawn in with dull orange. I still prefer the bright orange lower trend line as I think it gives more context to price action.
When BTC comes straight up after dips like this, it has often indicated bullishness for small time frame. I do see a window here where VET could get a quick touch in on the upper trend line of this ascending triangle.
Just a sneaky touch, cheeky 10% and then we come down. That's the idea for today.
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Todays VET Trade
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BUY: Enter on the trend line , don't settle, get a low price.
TARGET: .223
STOP: .188
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Fundamentals
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VETUSDT, Needs a strong breakout then growth. VeChainHello my friends, Everything is clear on the chart for you like always. So monitor the price's behavior in the circles and oval as o strong resistance zone witch the price must break it to growth. Good luck.
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Cup and handle forming, bounce off trending supportCup and handle pattern is forming on VET, we can see the handle forming now, with a bounce off two support lines (trend line & .5 fib). We do have .618 resistance line that we haven’t been able to break through. If pattern pushes us through, we could see new ath soon!
💡Don't miss the great buy opportunity in VETBTC
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (0362).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. VETBTC is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 61.
Take Profits:
TP1= @ 0406
TP2= @ 0476
TP3= @ 0601
TP4= @ 0808
TP5= @ 1022
SL= Break below S2
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VET.USDT (P21.P2.E6).Stalking next opportunity.Hi All,
VET does not seem to be losing momentum based on the daily and weekly indicators.
Neither is the ALT season is over.
I see this pullback with 2 possibilities, moderate or deeper.
The moderate pullback is playing out but the deeper ABC correction can be there with the 0.5 or 0.618 fib retracement on this impulse wave, chart below.
Hence the daily EMAs can have confluence to being support.
All the best,
S.SAri
DAILY Chart
s3.tradingview.com
On the weekly, it found support on the 0.382 fib level. However just like BTC, it has the possibility to hit the weekly 10 EMA.
Phoenix or WT is bullish for weekly and daily.
s3.tradingview.com
VET DAILY TRADE #10 --> Lots of trend line supportHIGH RISK TODAY!
This isn't really where you want to be entering this trade, there is a breakout play here still. Technically if we close on the next 4h, we have another decent opportunity at a breakout with move up to test next resistance.
BUT, bitcoin took a dump, and what we've seen past few days is = BTC pump -> ALTS don't move -> BTC dump -> ALTS dump. Its been a losing scenario for most ALTS.
VET has certainly held here better than others. But lots of indicators are getting bearish, if you entered a trade here, got your 10%, i would consider just taking it. Be real conservative with a trailing stop.
We need a few more days of BTC price action to figure out what's happening here.
-=-=-=-=-=-=-
Todays VET Trade
-=-=-=-=-=-=-
BUY: Enter on the trend line, don't settle, get a low price.
TARGET: .25 (consider selling at .223)
STOP: .198
-=-=-=-=-=-=-
--==--==--==----==--==--==--
Fundamentals
--==--==--==--
Rank #14
Market Cap = $12,585,223,824
Blockchain-powered supply chain platform
Top tier project
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