TradeCityPro | VETUSDT Keep an Eye on the Charts!👋 Welcome to TradeCityPro Channel!
Let’s dive into the days when the world is buzzing with interesting events—countries are forming alliances, and news of Trump’s tariffs to negotiations is everywhere. You need to keep a sharp eye on the financial markets and your assets!
🌐 Overview Bitcoin
Before starting the analysis, I want to remind you again that we moved the Bitcoin analysis section from the analysis section to a separate analysis at your request, so that we can discuss the status of Bitcoin in more detail every day and analyze its charts and dominances together.
This is the general analysis of Bitcoin dominance, which we promised you in the analysis to analyze separately and analyze it for you in longer time frames.
📊 Weekly Timeframe
After the bullish move from the 0.01963 support, we got rejected at 0.08271, essentially wiping out the entire move and fully retracing our steps.
We’ve now returned to the 0.01963 support, where we’re forming a solid green indecision candle, backed by noticeable buying pressure. This level has shown a strong reaction, acting as a reliable support.
This could serve as a decent buy trigger with low risk, offering a good entry point. Personally, though, I’m holding off on buying until we see stronger momentum in the chart and market, and until Bitcoin dominance experiences a deeper pullback.
📉 Daily Timeframe
In the daily timeframe, VET is among the coins that have faced a brutal sell-off! From its last peak, it’s dropped roughly 77%, and those without proper risk management have likely been wiped out.
After forming a support box between 0.04224 and 0.05298, we saw a fakeout above the box, signaling further downside. The last time we held support at 0.04224, we couldn’t reach the box’s ceiling, leading to a sharp drop. But after hitting 0.01942, the price has calmed down a bit.
For buying in spot or even futures positions, we’d need a break of the trendline and its trigger at 0.02352 to confirm entry, given the trendline’s retracement nature. If we get rejected from this trendline, a short position in a lower timeframe could make sense. Should 0.01942 break, the downtrend will likely continue. For spot entry confirmation, a surge in volume and a break above 48.68 RSI would be a strong signal.
✍️ Final Thoughts
Stay level-headed, trade with precision, and let’s capitalize on the market’s top opportunities!
This is our analysis, not financial advice always do your own research.
What do you think? Share your ideas below and pass this along to friends! ❤️
