VETUSDT Scallop and Descending Triangle
Vechain in a scallop descending but also in a Descending triangle.
it quite looks bearish but the Bullish divergence hasnt played out yet.
be aware that the support allready had 2 fails but bulls brought it back in the formation.
take an eye on the Bollinger Band which fits perfectly in the triangle.
the MA50 covering the resistance line of the triangle as well.
the MA200 is at the resistance line of the scallop zone.
when the break out takes place it would be nice to see a re-test.
lets see where the market goes.
on the weekly the outbreak last week was false.. bears brought the bulls back and so they got rejected.
it quite looks bearish but the Bullish divergence hasnt played out yet.
be aware that the support allready had 2 fails but bulls brought it back in the formation.
take an eye on the Bollinger Band which fits perfectly in the triangle.
the MA50 covering the resistance line of the triangle as well.
the MA200 is at the resistance line of the scallop zone.
when the break out takes place it would be nice to see a re-test.
lets see where the market goes.
on the weekly the outbreak last week was false.. bears brought the bulls back and so they got rejected.
Comment:
Tims.Technische.Analyse by TIMTIBBO