Vechain looks promising but only if !!!the wave that is mentioned as "1" is a significant break of structure. 18541 percent move is telling many things; however, in order to avoid any emotional trade, waiting for a good correction is necessary. R/R ratio is not satisfactory in current prices.
NOTICE:
IT IS NOT A FINANCIAL ADVICE
Veechain
VET bear divergencePrinted bear div on RSI and MACD histogram on 2hr chart, SRSI looks like death cross will be printed when this bar closes. So I am waiting to see which level will hold and waiting for possible bounce, if that support at 0.11381 is lost, 0.10333 could be in the cards again... Good luck traders
VET is about to go high again!After a bullish rally it has faced a predictable consolidation and this leads to form a descending trend line.Few days ago the trend line broke and again started an ascending trend.I draw a horizontal resistance and the chart trapped in a triangle pattern. A more detailed look at the chart reveals that it is has been supported by an ascending trend line as well. I speculate that it will be supported by the trend line an will break the horizontal resistance and probably will go high to its previous peak.
RickSmash VEN updateJust following trends, and estimating a .618 retrace to previous resistance level. RSI and MACD could use a cool off period to gain more power too.