Technical analysis:
VECHAIN/BITCOIN is in an up trend and Resumption of up trend is expected.
The price is above the 21-Day WEMA which acts as a dynamic support.
The RSI is at 71.
Trading suggestion:
The price is in an up trend, but we forecast the uptrend would probably resume.
There is possibility of temporary retracement to suggested support zone (0.00042 ...
Hi guys
With the listing of VEN on another exchange we could potentially be seeing a cup + handle formation in play.
Targets are labelled on the chart.. let me know what you think?
We have an ascending triangle here so, expect a $VEN breakout in the next couple of days/weeks, however with the market being as hormonal as it is, who knows!
BINANCE:VENBTC keeps bouncing off this baseline support, and could give a decent 5% return, with the possibility of hitting 10% for those with steel nerves.
Go easy on me guys, this is my first published TA!
Still going through ABCDE correction.
Rebrand event coming up on the 26th of February, looking for a run up the week prior.
Dependent on what BTC does.
Entry: 38k - 46k
Tarket 1: 75k
Target 2: 82k
Tarket 3: 96k
Following previous scenario, it looks like we now have a 5 wave correction down rather than an ABC.
With the 5th wave down, there is a possible buy zone now identified assuming a 5 wave correction up (BZ1)
Depending on risk profile, buy zone identified carries most risk but maximises reward - to minimise risk, optional buyzone identified at the base of the ...
Possible scenario for VEN showing a 5 wave impulse projection following an ABC correction down.
Targets set at 81500 and 10500, based on Fib Retracement of previous 5 wave impulse adjusted for mapped resistance lines. However, this may be suppressed should Bitcoin collapse by the end of Jan (check my BTCUSD projection for this scenario).
Opinion not advice ...
