VTCBTC trade ideas
2 Month forecastKeep your eye on this chart for next month. As soon as we hit that 2 wave, expect another month of 300% potential. 30m traders start your engines! As soon as we hit the 3 wave this coin will cool off because our wave 2 is abrupt so our wave 4 will extend over time. History will repeat itself on the 5 wave.
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Vertcoin current trend analysisBlue line is 50% down from current top to the bottom of the long term baseline of the 1 day chart.
Green lines are 1/3 & 2/3 speed lines calculated from the bottom to the top of the recent uptrend. They are the current support lines of the trend.
Red lines are 1/3 & 2/3 speed lines calculated from the top to the bottom of the recent downtrend. They represent resistance to the upward price action.
If price action goes under the bottom green line, the blue line is the last line of defense. I will not buy if it goes under here and wait to asses the new market situation and new signals, because the probability of the price going down a lot more is strong in this case.
Currently, price action is battling beetween the bottom red line resistance and bottom green line support. Possible point of upward price action are at the cross of the green and red lines.
DISCLAIMER: i'm a beginner learning TA. Any opinion from more experienced traders is appreciated.
DISCLAIMER 2: all this could be disrupted by btc price action, so keep an eye on that.
VTC Out of the UptrendI'd be careful with VTC here, a coin I was previously long on. It fell out of the uptrend, and tested the line and was rejected, precipitating more downward momentum. At the moment it has bounced off of the lower Bollinger Band line and testing the middle, but for me it's a watch and wait.