Vertcoin bearflag / blow-off phaseVTC/BTC is looking pretty rough. this coin has gotten a good amount of hype recently due to the Bitcoin Gold fork (as both of them are ASIC-resistant coins), but it is about to be in the "blow-off" stage of market sentiment. additionally, the chart is expressing a large bearflag. first target level is based on pattern projection of the flag / also a probable fib level; second is another probable fib level.
trade at your own risk
VTCBTC trade ideas
$VTC | ABC correction & targets ($btc $crypto)Looking at VTC, it has completed two consecutive sequences of Elliot wave. We just reached the peak of the second sequence so we're due a healthy ABC correction. I've suggested some targets here, based on the Fib-levels of the previous ABC correction.
(A) - Last time located around the 61.8-line, applying this again would land us around 22k
(B) - Will be just below the 1.618 level which coincides perfectly with a resistance line located just under 40k.
(C) - Finishing the corrective wave would place us at the .382 level, taking us all the way back at 16-17k.
There's a lot of buzz and confidence in this token, so this might play out completely different, but this is what I came up with. Let me know what you think!
Ok new channelRed line = Main Uptrend Support (from higher timeframes)
Orange line = Old channel we broke out of
Cyan line = new channel
Faint Grey line = temp uptrend in current channel
once again lets watch the action to see which way it breaks. I'm expecting down, but this is crypto and it can just shoot up for no reason, but if we got down time to load up.
VTC vertcoin - Fib retractment reachedThe low point of fib retractment level has been reached and the price movement is moving up rapidly.
It's amusing because I set up this scale 12 hours ago and it really hit the mark on when the downtrend would reverse.
VTC I believe is one of three altcoins that would survive and exceed this 'Goldrush'.
$VTCBTC - Vertcoin/Bitcoin - LongThesis
Long VTCBTC
The name has been trending higher on Day timeframe.
Confirmations:
1. Breakout above recent highs on heavy volume
2. Above support
3. Above trendline on Day timeframe
4. Higher highs and higher lows on multiple timeframes
Contradictions:
1. Below two resistance levels
Trade:
Long VTCBTC
Related Trade:
None
Disclaimer: All charts are for informational purposes only and should not be considered recommendations to perform actions related to securities.