I have already posted my analysis of vet/usd on the week and day. this is a closer look at the sub waves on the 4 hour chart.
As i said before, this looks like the start of a 3rd wave on the larger time scale.
we are currently forming the first sub-waves 1 and 2 of the primary wave 3.
if my count is correct we could get a 90% gain total from the primary wave.
VET looks to me like its completed a wave 1 & 2 and is just starting wave 3.
comments and feedback are welcome and appreciated.
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VeCHain looks to have bottomed out after testing the level at 158 twice and finding support both times. This should make a steady bedrock for accumulation to begin, moving out of the two wedges and then looking to find support at previously established levels.
Oversold RSI appearing now at the end of a descending wedge pattern. Lowered volume towards the end of the wedge too indicates potentially bears running out of steam... however buy order book is a little thin.
Looking for a reversal around the 150 mark, or a quick fall and bounce at Fib 140. If it doesn't bounce at 140 then 101 is very possible.
VET in accumulation area at the moment putting in lower highs. We are still waiting for this Alt to breakout like all the other big names in the crypto ALT market have done this weekend. #VET one to look out for in the near futrure.
. VECHAIN/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
. The price is in a range bound and we forecast the uptrend would begin.
. There is a possibility of temporary retracement to suggested support...
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.
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...
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...