Compared to WTC , VEN is the louder younger brother. Their team is extremely good in hyping and building up tension. The best part is, is that their hype is actually backed by major partnerships and good fundamentals.
This combination of marketing and good tech, has been the cause that VEN has seen an extreme rise the last 2 months or so. But with the upcoming rebranding and their mainnet launch in Q2, we could still go up.
VEN has completed 4 waves and is now in the middle of wave 5 (left chart). The waves that follow the uptrend (1-3-5) are also composed of smaller waves as we can see more clearly on the right.
In this smaller time-frame we can see that Wave 1 has finished and a correction to the blue box is due, which forms wave 2. This correction is also heralded by the on the left chart, which is pointing down and should cool off somewhat before we can continue with the uptrend.
Since we are in uncharted terittory it is difficult to find resistance lines to define tops. But using fibonacci and analysis I think for Wave 5 to end between 0.0015-0.0016 btc is not out of the question.
With that being said, we are still in leg 2 of wave 5. Now that the pattern is a bit clearer, I updated the bounce area. I'm thinking that 0.00059-0.00060 will be the bottom for now.