VET/BTC broke the .382 support level. Could move lower.

VET/BTC broke a key support level around 165 (.382 fib level) and has been unable to get back above it and hold above it. On one end, we can see the 4-hour RSI printed some bullish divergence as shown by the orange lines on the price action and on the RSI, but it was unable to get above the light-blue line which has been acting as resistance on the 4-hour RSI chart for a little over a week now. On top of VET/BTC being unable to get back above the .382 fib level, we can see the 4-hour EMA's will now act in conjunction with the .382 fib level as resistance, and I suspect VET/BTC will be unable to break that much confluence. I'll be watching for a move down to the .236 fib level around 141, or possibly a retest of the bottom around 101 should the .236 not be able to hold. If VET/BTC can get back above the .382 fib level and hold that level as support, then there is a chance it could look to meet some of the 4-hour EMA's, and if it can get above those, there is a chance it could move to the .5 fib level around 185.

Area's to watch for entry:

141 (.236 fib level)
101 (0 fib level, could form a double bottom if it holds this level.)

--This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility.

Comment:

Better picture of the failed retest to get above the .382 fib level:

Comment:

VET/BTC has still not been able to sustain buying above the .382 fib level: