TF: W
Pretty interesting set-up on VETUSD. Volume profile of the last bull trend (~$0.0018 up to ~$0.28) shows the POC of that move to be ~$0.019. Taking the volume profile of the current bear trend (~$0.28 down to current price) shows that POC to be ~$0.018 to $0.019. There has been high volume historically in this general area and price has been currently consolidating in the area for a year now. Another confluence is that price has retraced and bounced from 0.618 fib level from the last bull trend (~$0.0018 up to ~$0.28)
This may be a sign that large players are building positions in this general area, which could indicated a bullish move is coming over the next 1 or 2 years.
Pretty interesting set-up on VETUSD. Volume profile of the last bull trend (~$0.0018 up to ~$0.28) shows the POC of that move to be ~$0.019. Taking the volume profile of the current bear trend (~$0.28 down to current price) shows that POC to be ~$0.018 to $0.019. There has been high volume historically in this general area and price has been currently consolidating in the area for a year now. Another confluence is that price has retraced and bounced from 0.618 fib level from the last bull trend (~$0.0018 up to ~$0.28)
This may be a sign that large players are building positions in this general area, which could indicated a bullish move is coming over the next 1 or 2 years.