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Vetbtc

VETBTC trendreversal confirmed part 2Welcome fellow Tradingviewers, In my last analyses i showed you guys the falling wedge that we have been trading in for the last year or so, and we now broke out. Since then there was some news on Vechain again. - The cold wallet got hacked resulting in the loss of some funds - The Chinese Walmart is going to use Vechain to make a platform for food safety So there has been some mixed events going on, now lets go to the price action: Monthly: - Last one closed in a big bullish engulfing candle - The current monthly candle is showing a huge wick to the upside Weekly: - The last two weekly candle seem to be indicating a rejection and could lead to more bearish momentum - We closed below the 50MA weekly - RSI still in neutral territory - MACD still bullish Daily: - We broke the daily 50MA next MA suppport is located around 60 sats, where currently the 100 Ma is crossing above the 200. Making a golden cross - last daily close was a Bullish engulfing candle while bouncing on support, indicating upside - MACD is in bearish territory - RSI is Neutral - We are in the early stages of forming a cup and handle pattern on VETBTC So what's next? There is still some room for downside momentum, as long as bulls are able to defend the 60-65 sats area the cup and handle pattern will be valid. The cup and handle neckline is located anywhere from 90 to 100 sats, the conservative target upon breakout is located around 140 to 150 sats. Cup and handle patterns usually have a very strong breakout, so make sure that your bags are secured before the breakout! This analyses is only showing you guys my vision on VET and should not be considered as financial advice. If you agree or find this analyses useful, don't forget to leave a Like! If you have anything to say about this analyses ypu can do so in the comments below! Kind regards, Forallcrypto
Long
by ForAllCrypto
VET/BTC- 4hrs (Some Downside but good to Swing Trade)After a period of hiatus, we are now back in action and have rebranded to @SurgeInsider! Follow us at Twitter @SurgeInsider or join our telegram channel at t.me We will be covering technical analysis in conjunction with fundamental analysis into Major Currencies and Crypto-Currencies! VET/BTC TA Wise: VET seems to have continuous run upwards and is good for swing trade when it retraces. If downward pressure continues to push it down below 0.5fibs towards 0.618fibs and 0.786fibs. It maybe a good point to buy up some VET. The Kumo cloud shows strong support at those ranges as well. FA wise Fundamentally, we are paying close attention to any tokens with Chinese influence. Vet is one of them that has been enjoying this added attention. (Disclaimer: This is non-financial advice, any past performance, projection, forecast or simulation of results is not necessarily indicative of the future or likely performance of any investment.)
VLong
by Onhodlmode
$VET formed very strong trendline and dbAlready reached 97 stat. And bounced from trendline that we easily know in the channel previously ( t.me ). $VET has marketmaker a bit low capitalized that $MATIC & $RVN. I'm confident that next week we can check the rise of this token. - Very nice looking Stoch. and RSI. - Formed strong bullish trendline. - Double bottom formed very nice there (It can bring more psychological movements) - Stands on 0,5 Fibo solidly Only $BTC movements can bend $VET price in support direction, and even more downside.
Long
by alphanarrative
1
VETBTC trendreversal confirmedWelcome fellow Tradingviewers, This analyses is only showing you guys my vision on VET and should not be considered as financial advice. If you agree or find this analyses useful, don't forget to leave a Like ! We can clearly see that VETBTC has broken out of the falling wedge it has been trading in for the last year or so. Monthly : We have seen a huge bullish engulfing candle, with a lot of Buying volume last month which indicates a lot more room for the upside. Weekly : We have closed the last weekly candle in a huge bullish engulfing one, indicating more upside. We have also closed beautifly above the 50MA for the first time since this chart is live. Volume is increasing and seems to be confirming our positions. RSI and MACD are still nowhere near bearish territory. Daily : VETBTC is now fighting the first taking profit zone at 100 sats after seeing some sellof at 93 sats, we are now ready to try to test 100 after the beautiful bullish engulfing candle 2 days ago. The volume has been starting to increase on the way up, which usually is a very bullish sign coming out of a wedge like this. We are also above all moving averages on the daily graph which gives us even more confidence that the prices are going to keep on rising. RSI , MACD are also bullish on this breakout and ready for another leg up. What's next? We have set three targets from the falling wedge, they can be found at 100, 160 and 220 sats. Depending on how fast and well these targets are going to get reached will change our trading plan, but as we know falling wedges usually indicate a trendreversal and it is not uncommon that they easily override their targets! If you have any questions please let me know in the comments below! Kind regards, Forallcrypto
Long
by ForAllCrypto