VETBTC trade ideas
After breaking down the flag retesting the 100 SMAHey folks hope you are well and welcome to the new update on Vechain coin. As the VET coin has surged more than 450% therefore in today's article we will try to understand how this coin completed the bullish setup before this powerful bullish rally and what it can do next.
Breakout from down channel:
The price action of Vechain was moving in a down channel since November 2019. If we see the volume profile indicator then it can be easily observed that we had that trader’s interest up to 0.00000076 btc and from the downside we had the trader’s interest up to 0.00000076 btc. And if we watch the mooon phase indicator then we have several full moons above the resistance of the channel with high altitude and the dark moons near by the support or at the support of the channel. That was another clear indication that the price action can breakout the resistance at any time and it would be difficult for the priceline to cross down the level of dark moons. In the month of May 2020 the price action finally turned strong bullish and produced more than 450% bullish rally and broke out the resistance of the channel:
Breakout from the long term chart’s channel:
If we switch to the weekly chart then the price action was moving in another channel on this long term chart. The priceline also broke out the resistance of this channel and during this bullish move the price action also broke out the 25, 50 and 100 simple moving averages on the weekly chart. Now the 25 and 50 moving averages are moving up to form the bull cross with 100 simple moving average that will be another bullish signal and that can produce another powerful rally.
The ichimoku cloud on long term chart has turned bullish:
Now if we placed the ichimoku cloud on the weekly chart then it can be easily observed that the price action has broken out the bearish cloud. The conversion line and the baseline formed bull cross just beneath the candlesticks and the lagging span of the ichimoku cloud has also crossed up the bearish cloud. After all these bullish signals eventually the cloud has also turned bullish.
If we switch to the small time period 4 hour chart then we can see that the priceline is continuously forming different bull flags. Recently the priceline has formed another bull flag that was in fact a descending triangle. But Yesterday the pipeline of Vechain has broken down the support of this triangle.
Now it is also breaking down the 100 simple moving average support on this 4 hour chart. If this support will be completely broken down then the price action may move more down to re-test the 25 and 50 simple moving averages on the daily chart.
Conclusion:
Even though the price action of Vechain is very strong bullish but it is at the very high distance from the different moving averages on the daily and the weekly chart as well. Therefore this correction rally that is likely to be started was needed before any further upward move.
VET/BTC 1DPOSSIBLE POSITIVE MOVEMENT FROM VET/BTC IN FOLLOWING DAYS. STILL STAYS IN INCREASING CHANNEL.
Still bullish on VeChain? I'd say so!Looks like it will be breaking to the upside... Ascending Triangle!
VET.BTC (Y20.P3.E1).Its about timingHi All,
I see another small trade opportunity. Inverse H&S or triangle breakout.
Cheers,
S.Sari
Daily looks good
Weekly, still bullish but aware of the RSI (87%) in over extended region
VETBTC Reminder: I'm by no mean an expert, I'd like to share perspectives with you. See for yourself. General sentiment is a downtrend, but I do not fully agree.
Support is respected for now. Weekly RSI overextended, all time high is in sight. However this doesn't say anything, VET has some big partnerships and has a lot of potential to grow. Keep in mind the resistance, once above buy-in wouldn't be a bad idea.
VETBTC Short from the topRSI maxed out on weekly and fib hit 2.618 already (very big 2 bearish signs)
If you are longing, i dont know where you are targeting but you must be in big trouble.
Instead of blindly hoping for new all time high, you better try this trade.
Good luck
$VET breaking out 4H target 237Exchange VETBTC 4h Binance
Price:0.00000206|0.00000206|0.00000203
Vol: 6,601,285|116,819,528|112,037,574
ATR: 0.00000009
✅OBV: 9.7 B| 9.7 B| 9.6 B
⚪️RSI: 58.29| 58.29| 56.17
⚪️MFI: 39.92| 53.13| 52.82
⚪️CCI: 104.39| 78.99| 69.85
⚪️WR%: -15.38| -13.33| -31.25
✅ADX: 29.02| 28.67| 28.29
✅MOM: Bullish Momentum
✅SMA: Price is Above SMA Bullish
✅ADI: +DI >DI BULLISH
✅MACD: Bullish
✅PSAR: Bullish
Support And Resistance
S: 0.00000192
S: 0.00000198
R: 0.00000209
Volatility is moderately low
EXPERIMENTAL 🧪
⚪️RSI:No divergences
⚪️MFI:No divergence
⚪️FVE: No divergence
🐻Volume: Bearish Volume Trend
WhaleBot Algo 🐳
🛑No Trend
No Trend 16 hours ago
Vet ready for 300 sats at wave 5 ;)It building up momentum again. Remember XRP when it first got some gains in 2017? Or Iota.. or allthe other coins. First huge pump, then bigger pump:D
VETBTC, Expecting correction...After a 400% move, of course it's not bad to have a 50% correction.
Vet will possibly hit the breakout level which can be a buy zone.
Vet bullishVet looks as if it's coming into a buy zone, buy off the 50 fibs and also the 61.8 if it hits that low.Take 50% at previous high and let the rest ride.
vet in bit triangle , BREAKOUT right nowvet in bit triangle , BREAKOUT right now , over 300% profit in deal
VET mid/long term speculationHello everyone.
This is ZOOM OUT for VET on Weekly chart to add better view for the previous idea
Visible range showing support somewhere around 78satoshi. I personally would like to see the retest of 100-120 sat and then possible C&H formation can happend.
Volume BIG, FOMO too but Weekly RSI as well so keep it in mind.
ChaChain
-------------
Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
KEYWORDS
trading, bitcoin , bitcointrading, profitable trading, profittrading, profit trading, secret, divergence, bull divergence, bear divergence, divergencetrading, divergence trading, trading strategy, how to trade bitcoin , bitcoin trades, bitcoin trading, make profit, take profit, trading strategy, trading technique, successful, successful trader, successful technique, successful strategy, successful secret, how to trade, trend analysis, technical analysis , indicators, rsi , relative strenght index, let it rain, successful life, easy strategy, easy trading, easy technique, make money, crypto investing, investing, crypto, cryptocurrency, cryptocurrencies, mentoring, money, chartart, beyond technical analysis
