powdah
Long

VEN at critical point, possible early signs of reversal

BINANCE:VENBTC   None
VEN is at an interesting point both in TA and fundamental. My understanding with the x node holders is that they can temporarily move VEN around for a limited time ?maybe until August/Sept, without losing Node status. This may be the fundamental reason for the recent price dump.... whales potentially selling to buy at lower prices --- accumulate. This is pure speculation based on buzz I've read about the conversion to VET etc. As far as TA, I see what appears to be a bullish pin bar , just barely missed being an inside bar as well on the daily but is in an area of possible support on a descending wedge . I am still learning the pin bar vs inside bar price action but basically it is at an area of interest/possible support. Will watch this next daily candle closely for bullish price action. Few trade ideas are to place an order half way down that green pin bar with a stop loss according to your risk tolerance below the previous days bar or to trade the trigger above the pin bar at around 31000 or so. Potentially, we will see some buy back coming in the next days to weeks but as always, also depends on BTC direction as well

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