Chibuike_Odoh

VET/BTC { VECHAIN } - BULLISH SETUP

Long
BINANCE:VETBTC   VeChain / Bitcoin
ANALYSIS 🔎
- VET/ BTC is on an uptrend supported by the ascending trendline support.
- The market hit a swing high and retraced.
- Price is retesting the ascending trendline support and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this zone.
- The retracement is resisted by the descending trendline resistance.
- Breakout above this descending trendline resistance could be an uptrend continuation signal.

BUY ENTRY ⬆️
- Aggressive entry: the key fibonacci retracement zone.
- Conservative entry: breakout above the descending trendline resistance and horizontal resistance level (@0.00000263)

TARGETS 🎯
- Horizontal resistance level (@0.00000395).
- Horizontal resistance level (@0.00000443).
- Horizontal resistance level (@0.00000473).
- Fibonacci extension levels.

SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the ascending trendline support.
- Final invalidation: breakdown below the horizontal support level (@0.00000189).

Comments

good work as allways. i come back ;)
+1 Reply
@CoinPlusTrader thanks mate
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