VeChain (VET) - parabolic move circa ~2000%

On the above 3-day chart price action has corrected 80% since May of 2021. A number of reasons now exist to be bullish.

1) A number of strong buy signals.

2) RSI resistance breakout.

3) Regular bullish divergence with multiple oscillators.

4) The monthly chart (below). Take time to study the channel price action is trading in and the candle printing. Should the following candle print ‘green’, then the rest is history.

Is it possible price action falls further? Sure.

Is it probable? No.

Action? When price action breaks resistance at ‘Go long here’, then ACT. If history is any teacher price action will top out between 60 and 90 days.

Ww


Type: trade
Risk: <=6% of portfolio
Timeframe: 3 - 6 month
Return: 2000%

Comment:

The monthly chart

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Trade active:

Price action breakout confirmed

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Buy signals popping off on multiple time frames now.

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A break of market structure - in a good way, resistance no longer.

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Did you see?

Comment:

Very little has changed since publishing this idea, price action is only down 10%. It really is only a matter of being patient.

5-day chart

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The next move should please.