MavericcCap

Vechain / BTC Breaks Out! Will it go to ATH?

Long
BINANCE:VETBTC   VeChain / Bitcoin
VETBTC has successfully broken out of the long term resistance trend line on the daily charts . On the weekly charts the closing is awaited for confirmation of the same by post closing on 31st May 2020.

In the meantime, our initial position has already yielded around 30% returns and more returns are possible in the coming days if the chart structure remains intact.

Below is our earlier Long Call on VETBTC Pair
Earlier Analysis 4H Chart:
1D Chart:


The daily chart here shows the initial breakout region being tracked by a highlighted red eclipse.

The red line is the long term resistance line VETBTC has broken out of. The thick green line should act as the immediate support for VETBTC to continue moving in an upward trend. The green line at 35 sats is the long term support expected to be held but for current position to continue the SL would be maintained at the thick green line. Any break below the same could lead to testing the long term support at 35-37 sats region and hence shown with red downward pointing arrows.

The green highlighted polyline is the region for VETBTC to grow going forward with ghostlines drawn for only reference. The actual movement will be monitored over a period of time.

Any break above the yellow line could lead to a potential parabolic rally for VETBTC. Be cautious while trading in that zone.

Our targets on VETBTC pair stand at 64 / 82 / 110 / 150 / 250 sats . We are active in VETBTC since 45 sats level.

Trade active
Trade active: First Target achieved.

With BTC rebounding and moving to 9700s, this break out is looking even more promising for VET.
Trade active: Target 2 Achieved.
Trade active: SL revised to 69 sats.

Part Profit booked at 106 sats.

Retracement could be seen in coming days looking at the run up. However, may cryptos are just going up oneside and there is no reason to believe VET may not do the same. However, we would be cautious now to let is rest a bit and restart the rally towards ATH.

A new analysis may be required if retracement is seen in coming days.
Comment: The movement from 80 sats and upwards since yesterday is mainly on account of the coinbase news.
Comment: Last 1 Month our calls have generated 306% returns. To get access to all our signals, connect with us on telegram or message here on tradingview.

Introductory Offer - 100$ / Month!!!
Comment: Target 2 of 110 Sats achieved
Comment: Target 3 - 150 Sats achieved.

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