davec83
Short

Ven/BTC due for a nice ABC correction

BINANCE:VENBTC   VeChain / Bitcoin
We have completed a typical 5 wave pattern, now we should see an ABC correction which would end near wave 4, or lower. If we go lower then you need to wait for a new cycle. It it stops near wave 3/4 then this is a continuation of a larger bullish trend in the future.
Trade closed: target reached: Price point of C was touched on Feb 5th.
Comment: I don't think we have touched bottom yet.

Nice call! Do you think it'll go up from here or does it look like it'll go below point C?
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davec83 vspectra
@vspectra, Well, it's hard to tell because we have no price history. If I were to guess, I would say this cycle is over and we should be going down, unless there are strong fundamentals behind this coin or important news coming in the following weeks/months.
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vspectra davec83
@davec83, They have a rebranding on Feb 26th, but yeah I think you're right. Seems the bull run was leading up to it.
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davec83 vspectra
@vspectra, Posted a quick update, everything indicates a bearish trend continuation. But you never really know, we are still above the 50EMA line.
+1 Reply
Man dont get too famous please :) Your charts are great.

I already had VEN before i saw this chart but it is going like as you predicted. Nice job
Reply
@feawar, thanks! Did you sell on time?
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