After a nice and long run up VENBTC has sold off and come back to test its 200 EMA on the 4H Charts. Now back above its 200EMA (The Green line) its rallied up above the 0.000568 resistance level (The Red Line), and then pulled back to test it and the 23.6 Fib Retracement (The overlay also a red line).
While rallying up its corrected the order of the EMA’s for trend, 20 has crossed above 50, which is above 200, which is a Good time to buy.
I have a decisive buying bar setting up and I will buy the break of the high of that bar as long as it closes above resistance at 0.000568 (The Red Line) I will watch it carefully to make sure it takes out the recent high. Its an early resistance level that needs to be beaten.
Entry: 0.000594 (providing this bar closes above 0.000569 Stop Loss: 0.000552 (Bottom of the bar) Targets: 0.000636, 0.000701, 0.000750 (The Black Lines)
If you want to make dollars your decisions need to make sense.
Follow for more trade ideas I will be posting another buy opportunity today.
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This has pulled back to another horizontal level and Fib Rretracement. is worth watching around these levels for a bounce
Thanks @DollarsAndSenses , I think VEN will have a good run especially with the rebranding.. it has gone up alot the last couple of days, so once it breaks above 0.000594 your saying this would be a good time to jump, what about for the rebranding maybe worth holding until then?
Megamycete
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@Remm_Unknown, Looking at 1hr and 5 minute charts, it shows a descending triangle which means unlikely to break the resistance level shown at 4h chart. (Bar might not close on top) So what do you suggest now @DollarsAndSenses ?