Chris and I have been watching VET. Being one of the cryptos that has not made it's stronger bullish run yet that many others have made this week, still testing around major support.
Break above bearish TL will be ideal
This current area could make for an entry as there is some confluence especially with retesting the strongest volume area within this range, although it will be more risky
A break above .0820 resistance, and above current bearish trend line will make for a much stronger confirmation
There is also a 4H pin bar at current support, although it is followed by a doji candle showing indecision, therefore looking for much stronger confirmation for a longer term move
Will see how price plays in my circled area if this scenario plays out, will be looking for much confluence with price action, volume and indicators for potential entry in that area
1st profit target will be .11 to complete a AB to CD movement which also lines up with resistance level at -.618 fib extension
If price breaks below .0709 support, this set up will be invalid and will adjust my perspective from there.
Break above bearish TL will be ideal
This current area could make for an entry as there is some confluence especially with retesting the strongest volume area within this range, although it will be more risky
A break above .0820 resistance, and above current bearish trend line will make for a much stronger confirmation
There is also a 4H pin bar at current support, although it is followed by a doji candle showing indecision, therefore looking for much stronger confirmation for a longer term move
Will see how price plays in my circled area if this scenario plays out, will be looking for much confluence with price action, volume and indicators for potential entry in that area
1st profit target will be .11 to complete a AB to CD movement which also lines up with resistance level at -.618 fib extension
If price breaks below .0709 support, this set up will be invalid and will adjust my perspective from there.