VTHO - 1D Chart with the Ichimoku CloudVTHO 1D chart update using the Ichimoku Cloud with the 20,60,120,30 settings:
Note that VTHO is in the Ichimoku Cloud Equilibrium Zone for this 1D timeframe.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the mid point of the short-term momentum is sideways.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the mid point of the mid-term momentum is sideways.
The Ichimoku cloud Lagging Span (Chikou Span) is indicating that the momentum at the moment is downwards. Note that the Lagging Span (Chikou Span) is still above the candle from 30 periods ago.
VTHO has found some support from around its Conversion Line (Tenkan Sen) level for this 1D timeframe. A good sign will be if VTHO manages to stay above & close a daily candle above this level.
Note that VTHO has dropped below its Volume Profile Fixed range Point of Control (VPFR POC) that i have selected on this chart.
VTHO is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range.
Note that Volume is still very low on this finance chart and the last 6 Volume Bars have been below its Volume 20 Period Moving Average.
VTHO is still above its Bollinger Bands Middle Band Basis 20 Period SMA, VTHO may find support at this level if the Conversion line (Tenkan Sen) support fails.
VTHO had dropped below its Least Squares Moving Average (LSMA) 3 days ago which is a sell signal for most traders who use this indicator. If you are LONG, then for this indicator confirmation of renewed upwards momentum will be when VTHO closes a daily candle back above the LSMA.
VTHO has found resistance from its descending resistance line. A close above this and successfully retest as support is crucial for continued upwards momentum.
The Average Directional index (ADX DI) is showing the trend strength has dipped with the ADX (Orange Line) at 51.90 but note its still above its 9 Period EMA (Black Line) which is at 50.72. The +DI (Green Line) has dipped to 28.34 and the -DI (Red Line) has risen to 14.12, this indicates that Positive Momentum has dropped and Negative Momentum has increased. If the ADX (Orange Line) crosses back under the 9 Period EMA (Black line) then we may see a bigger drop in price for this 1D timeframe. What we don't want to happen is the +DI (Green Line) to cross back under the -DI (Red Line), that would mean that Negative Momentum has completely overtaken Positive Momentum for this 1D timeframe.
The Relative Strength Index (RSI) is indicating momentum is downwards at the moment. Note that the RSI (Purple Line) has dropped below its 9 Period EMA (Orange Line) this is an indication downwards momentum strength.
If you are LONG and using this method, full bullish confirmation for this 1D timeframe will be when the Ichimoku Cloud Leading Span A (Senkou Span A) crosses back over and above the Leading Span B (Senkou Span B) level creating a new Bullish Green Cloud (Kumo) for this 1D timeframe.
If the Conversion Line (Tenkan Sen) fails as support then VTHO has the Bollinger Bands Middle Band Basis 20 Period SMA, the Base Line (Kijun Sen) as well as its Ascending Support Line as potential support levels.
As always we have to keep an eye on what BTC is doing but looking at this analysis, there could be some good opportunities to acquire more VTHO at a much cheaper price.
I hope this is helpful with your trading and hodl-ing.
