I am relatively new to trading, so feedback would be highly appreciated.
Here is a continuation pattern, I used a pole to measure the target price for VET/BTC, this target price hit a resistance level from 2018.
As the trend went upwards into the pattern this should mean that there is a 70% chance of VET/BTC breaking bullish.
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.
. 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...